110 % slowdown puts many construction-related sectors at risk

In the Marca Trevigiana the superbonus has created a flywheel of almost three and a half billion euro, but now construction works on 209 apartment blocks are at risk

Economy - published on 20 November 2023


Fonte: ufficio stampa Confartigianato Imprese Marca Trevigiana

Oscar Bernardi, president of Confartigianato Imprese Marca TrevigianaA serious reflection on the future of building efficiency in Italy, especially for less affluent families, must be opened immediately. In order to make up for the accumulated delays, an extension is absolutely necessary to allow an orderly conclusion to the superbonus.

The 110 per cent leverage has created a flywheel in the Marca Trevigiana of almost three and a half billion euro. It has affected eight out of ten sectors, but the slowdown is already being felt. At risk are construction works in 209 apartment buildings, with a consequent slowdown in sectors such as mechanics, wood and furniture, and transport.

If a car suddenly accelerates and just as suddenly brakes, driving off the road is almost guaranteed – the alarm comes from Oscar Bernardi, president of Confartigianato Imprese Marca Trevigiana, and is based on data processed by the association’s study centre.
The 110 per cent has been an extraordinary ‘booster’ for the Veneto region, where it has produced a relapse of almost twenty billion to which must be added the nine direct ones. The production and employment of a significant number of productive sectors depend substantially, and in some cases almost totally, on the activity of the construction sector, which purchases goods and services from as much as 80% of all economic sectors.
In the province of Treviso, direct investments linked to the bonus have touched the 1.580 billion euro mark, of which 664,620 have involved condominiums.

There is one and a half months to go until the end of the year – Oscar Bernardi emphasises – and the problem of condominium construction sites that risk not being finished in time may not be the most serious. The multiplier lever, which has facilitated us so much so far, will lead to an equally important downturn once the 110% is finally closed, and the consequences can already be seen. Sectors such as construction products and materials, engineering and metallurgy, as well as manufacturers of household durables such as appliances and furniture, and transport are coming to a sharp halt. The blockade against which the construction industry is about to crash will trigger negative impulses that will be reflected and amplified within the economic system across many sectors.

In addition to the blockage of construction sites that, also due to the regulatory and applicative chaos of the tool, will not be able to finish the work in time, Confartigianato points out how companies in the sector will be penalised by the increase in the withholding tax on transfers made by their clients who intend to take advantage of tax bonuses, as envisaged by the 2024 manoeuvre.

While agreeing with the need to close the 110% season – reasoned president Oscar Bernardi – we must immediately open a serious reflection on the future of building efficiency in Italy, especially for less affluent families. We cannot continue to live on buildings that are hot in summer and cold in winter, and where the energy cost today to make them liveable is impractical for many families. We need to find a solution that can give everyone the opportunity to make their homes, single or multiple, more efficient. Help is needed from the banks, obviously with the necessary sustainability criteria and certainly not with the current rates.

In order to make up for the delays accumulated with the 110%, Confartigianato is pushing for an extension that would allow an orderly conclusion to the superbonus, which would avoid the sudden loss of hundreds of thousands of jobs caused by the sure interruption of thousands of building sites. On the horizon are disputes between condominiums and companies with the mad rush already underway to finish the work, with the consequent risk to both the safety of the workers involved and the quality of the work carried out.

A limited extension for only those interventions that show concrete progress on the construction site – proposes President Bernardi – could solve all these problems with a contained cost for the state coffers, far less than the social and economic chaos that would be caused by leaving the December deadline unchanged. The Budget Law must offer a concrete solution to a problem that closely concerns thousands of workers, families, and businesses that in good faith have started work and now risk finding themselves in serious difficulty. The country must grow and to do so it must invest. Investment in the construction supply chain must not be frozen. The construction supply chain is also strategic in the Marca Trevigiana. This is why we ask banks to be an instrument for the development of the territory and not just to pursue stratospheric profits.

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