Thursday, July 25, 2024

(NEW) Crackdown on super-reward, here are the risks facing construction in Calabria

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Cosenza Fears that an entire sector could collapse under the weight of cuts in tax bonuses for construction work are becoming increasingly tangible. Primarily because the main measure of this package – the 110 super bonus – is set to be significantly reduced, if not eliminated.
In the government’s intentions, there is actually a further reduction in the percentage of tax deductions given to owners who start working on the energy efficiency of their homes and strong restrictions on who will be able to take advantage of this benefit. Two elements that will certainly have an impact on the audience of those preparing to make new renovations to their homes. With the resulting effects on the profitability of companies in the sector and on employment.
The maximum subsidy, which has already been reduced to 90% this year, will be reduced in the next two years, respectively, to 70% and then to 65%. Therefore, it can be reduced further and included in the next budget law. Just as there will certainly be no extension of this measure, which was initially announced. This was confirmed by the words of the Minister of Economy and Finance, Giancarlo Giorgetti, in response on 13 September in the Chamber to a question about the extension of the additional bonus until 2024: “It is not the government’s intention to go ahead with the extension of the additional bonus until 2024.” Measures related to interventions in the forms known so far.”
Dry words, which seemed to close once and for all any possibility of extending the action at this rate to anyone. This, coupled with the announced tightening of the easing tool, generates the maximum level of alert for a sector that has certainly been a driving force for the economy at the time of post-Covid restart. During 2021, the construction sector’s contribution to the country’s GDP reached 27%. In the biennium 2021-2022, this contribution was equivalent to about a third of the value of growth in the Italian economy’s GDP.
But on the contrary, this measure, and thus the government’s decision to amend it again, turned out to be a drain on the state’s accounts. It was Giorgetti himself who, a few weeks ago in Cernobbio, spoke of a “stomach ache” because of the 80 billion that still have to be paid until 2026. According to the calculations of technicians at Via Finti Settimber, there will still be 142 billion in the appropriations. Copied and not used “Out of 130 billion – the Undersecretary of the Ministry of Economy and representative of the Northern League, Federico Freni, recently confirmed – 21 have been compensated. 109 remain, which is increasing by 3.5 billion per month.”
The staggering numbers require the Treasury to take action on this measure, but it will have serious repercussions for the sector.

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Good building hygiene in Calabria

It is a sector that is undoubtedly essential for social and economic stability in Calabria as well. In fact, sector data indicates how much the construction sector “impacts” the real economy of the region and how it has grown over the last few years also and above all thanks to construction bonuses.
According to data provided exclusively to Corriere della Calabria by the Movimprese system of InfoCamere-Unioncamere, the number of companies operating in the construction sector has increased. From 21,468 in June 2018 to 22,325 five years later.
In percentage terms, this growth was equal to 4 points, which is much higher than the national average, which in the same time period stopped at 0.8%. With the central regions recording a decrease of 3.6%.
Another important aspect of this analysis is that their growth came first Shareholding companies recorded +22.7% during this five-year periodIt is also a sign of the sector’s maturity. Again in percentage terms, this increase mainly affected the province of Vibo Valentia which from 2018 to date has achieved a positive performance of 7.7 points. Strong growth in this production sector which was also recorded in the Reggio Emilia region (+6.7%) and in the Crotone region (+5%). But less severe in the Cosentino area (+2.9%) and in the Catanzaro area (0.4%).

The beneficial effects of this powerful and guaranteed additional treatment have been recorded and thus on Employment level provided by the sector.
In the five-year period examined by Corriere della Calabria, data on employees in the sector show significant growth.
According to figures provided by Movimprese, which only refer to companies that transmit information to INPS, the number of workers employed in the construction sector in Calabria in March 2018 rose from 27,740 to 35,398 after 5 years. Record a An increase of 7,658 jobs In addition to growth in this time period As much as 27.6%. More than ten percentage points higher than the national average: 16.5%. And more than what happened during this five-year period in the northeast (+7.3%), in the northwest (+11.2%), and in the center (+17.6%).
Figures indicate the good health condition that the sector has enjoyed so far, which is also a result of the facilitation system guaranteed by constructive bonuses.

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Management costs in Calabria

If on the one hand the effects of these incentives starting from the super bonus were beneficial to the Calabrian economy, on the other hand this mechanism created a great spiral of public spending.
To obtain the dimension it is necessary to analyze the data provided by Enea and the Ministry of Ecological Transition (now the Ministry of Environment and Energy Security). Well, by reading the figures in the latest report, it turns out that as of last August there were 13,610 sworn redevelopment works for a total investment eligible for the deduction of more than 2 billion and 612 million euros, of which 80.3% of the works are already completed. Which created a burden on the state amounting to approximately 2.3 billion.
The report also highlights a sharp slowdown in the use of this measure in Calabria after incentives were cut. In fact, if the growth of energy efficiency interventions on a monthly basis recorded an increase of 0.9% and 53.25% in a year, this trend will certainly be greater in 2022. In August of that year, the number of interventions approved on a monthly basis increased by 6.96% and by Up to 442.19% on an annual basis.
A noticeable slowdown, in light of the new measures being considered by the government, could completely halt the victorious march of the entire construction sector so far. ([email protected])

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