Superbonus, F24 and Btp to banks to release problem loans: what it means

The ultimate solution to unlock the tax credits linked to superbonus and other building bonuses. The amendment should reach the House on Monday and at this time the majority and the Ministry of Economy are filing the details, which are never as relevant as in a complex matter like this.

Superbonus, F24 and Btp in banks

In the end, the compensation mechanism through the F24 bank should pass, albeit in a restricted version, with some limits. And a parachute is also being studied for the credit institutions themselves, in the form of Btp to be obtained in exchange for the sums not alienated. The political objective of the government is clear: to put an end to a story that has dragged on for some time, with families and especially companies at risk of great losses. In an imaginative but not unfounded comparison, there was talk of a “exodus” from the superbonus: just as in the past workers who had left their jobs depending on the then-modified social security rules in the career they had found themselves without salary or pension, so many companies had relied on the possibility of discounting the credits related to the works with the banks and then found themselves without the expected liquidity, often at the point of bankruptcy.

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What blocked everything was the announcement by the banks that they no longer had “capacity”: that is, that they had exhausted the margins to recover the amounts in question from the State, depending on the taxes and contributions to be paid . A count that is not entirely shared by the Ministry of Economy, which indeed, based on information from the Tax Agency, estimates the “space” still available for credit institutions at more than 7,000 million (and that of insurers in 10). . . The request has come from the banking sector to be able to also use the F24 of their customers, that is to say, the models with which the latter make their tax payments.

However, the idea did not fully convince Minister Giorgetti; now it should enter the final plan but with some limitations. To protect the banks, we then work on a compensation that goes through the Btp: the State would agree to convert the unabsorbed credits into ten-year government bonds. In this way, the amounts would only be partially discharged to the public budget: more precisely, they would weigh on the debt but not on the annual deficit. This is a trick governments have resorted to in the past when faced with unexpected financial commitments. Another hypothesis was also circulating yesterday, to which the president of the Finance Committee of the Chamber, Marco Osnato (Fdi), referred: that of a “vehicle”, a kind of platform on which to exchange credits with a public guarantee . However, it is a more complex solution and, therefore, not of immediate use, which for the moment remains in the background.

Meanwhile, Minister Giorgetti’s discreet pressure appears to have achieved some results, with some of the banking world, starting with Bpm, buying credit again. With the next modification, it is hoped to put an end to the whirlwind of legislative changes that have taken place since 2022, when the then Draghi government sounded the alarm both about scams in the field of real estate bonuses and about the impact on public finances. An impact that was then defined in recent weeks with the decision of the European statistical authority to count all the credits in the annual deficit (instead of “spreading” them over the theoretical duration of the related tax deductions).

The development of a solution was welcomed by Confedilizia. “Views are opened on a complicated history”, commented the president Giorgio Spaziani Testa. “In these hours, more positive news has arrived from Parliament – Spaziani Testa added – such as the approval of the modification that maintains the credit transfer system and the discount on the bill for interventions for the elimination of architectural barriers , as we propose (together with the seismic improvement works), and the planned openings for free building interventions».

Source : IL Messaggero

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