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Podcast: The Real Estate Espresso Podcast
Episode: Italy Drowns In It's Punch Bowl
Description: Today’s show is another example of out of control government spending.
Italy's government said on Tuesday fiscal incentives for home renovations had had a "devastating" impact on public finances over the last four years and were to blame for the expected rise in the country's massive public debt through 2026.
The plan offered to pay homeowners 110% of the cost of energy saving renovations. Another project promised to cover 90% of the cost of improving the facade of a building.
The government underestimated the scheme's appeal, but also made a number of other errors.
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