Construction: Why save 55%

16 July 2012

“Achieving energy efficiencies in construction means applying technological innovation to construction techniques and materials, thus reducing consumption and improving the average living standard. The residential infrastructure in Italy is very old and of low quality and it is this property that is affected by the incentive, albeit imperfect, which grants tax allowances of 55%. With respect to the around 1.5 million applications submitted to access the 55% in the 4 years of its operation, revenues of around 17 billion have been made and more than 50,000 specialist new jobs created; while the cost to the Treasury net of the increase in tax revenue did not exceed 300 million a year. Taking into account that the average cost of renovation work has been less than 20,000 euro, it does not appear that the new decree, which expires as soon as July 2013, can guarantee similar results”. Full comment by Fabio Brivio, Managing Director for sustainability at Confindustria-Finco (Federation of Industries for Construction Products, Systems and Services) on today’s Il Sole 24 Ore.