For Italy, Making Cities Beautiful is the Way to Boost Economy

Governments all over the world are giving out their aces in the sleeves to activate Post-Covid 19 economy. Trump government is quantifying economy in the never-seen-before scale of trillions of dollars for helping businesses from big to small, as well as unemployment package. Several European governments is giving out subsidies to people losing their jobs or businesses. Asian countries, such as Singapore, South Korea and Japan are offering many helps to simulate the economy.

Among all the dull government announcements, an Italian press release catches my attention:

The Revenue Agency provided the advantage of the so-called “facade bonus”, the tax deduction of 90% of the costs incurred for the recovery or restoration of the external facade of existing buildings, required by the Budget Law 2020.

The Facades Bonus is a courageous measure that will make Italian cities more beautiful, improve energy efficiency and give an immediate boost to the economy. I am sure that it will be a success and that many will use this important tax advantage, which is one of the highest in all of Europe and which will help to bring decorum and beauty to urban areas, suburbs and small towns, “commented the Minister for Franceschini cultural and tourism assets and activities.

Source: Agenzia delle Entrate / Ministry of Cultural Heritage and Activities and Tourism

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