Cottarelli: "I remain a moderate, the super-bonus M5s?

Carlo Cottarelli, the Italian economist known for his critical stance on fiscal policy, has publicly criticized the so-called “superbonus” introduced by the Five Star Movement (M5S) during its time in government, calling it an absurd measure that cost Italy nearly 260 billion euros. Speaking in an interview with Il Giornale, Cottarelli emphasized the need for transparency in political promises and warned against the misuse of public funds. The debate over the superbonus, which allowed homeowners to receive up to 110% of the cost of energy-efficient renovations, sparked widespread controversy among economists and financial analysts. According to Cottarelli, the measure was not only financially unsustainable but also politically reckless. He argued that the policy was driven more by electoral strategy than by sound economic reasoning. The estimated cost of the superbonus, ranging between 210 and 260 billion euros, has been cited by multiple sources as one of the most expensive and poorly planned fiscal interventions in recent decades. Cottarelli’s criticism comes amid broader concerns about the lack of transparency in how governments fund their election pledges. He has long advocated for greater accountability, insisting that political parties must clearly outline where they intend to draw funding from when making promises. His call for clarity echoes similar demands made by other economists and watchdog groups, who have raised alarms about the growing gap between campaign rhetoric and actual budgetary feasibility. In an effort to push for reform, Cottarelli has launched a campaign aimed at mobilizing public support for a proposed law requiring political parties to disclose the sources of funding for their election promises. The initiative, backed by the Foundation Luigi Einaudi, seeks to ensure that voters are better informed about the financial implications of political agendas. So far, the campaign has gathered around 28,000 signatures through social media platforms, indicating a level of public interest in holding politicians accountable. While Cottarelli acknowledges that such measures may be uncomfortable for politicians, he argues that they are necessary for restoring trust in democratic institutions. He points to examples from countries like Sweden, the Netherlands, and Belgium, where similar laws have been implemented successfully. These models, he suggests, could provide a blueprint for Italy to follow in improving fiscal responsibility and transparency. Separately, Cottarelli addressed the ongoing legal case involving a jeweler accused of killing two armed robbers and injuring a third during a confrontation. While acknowledging the complexity of the situation, he cautioned against premature judgments, emphasizing the importance of judicial discretion. He noted that the case raises questions about the limits of self-defense and whether the court considered mitigating factors adequately. As the country prepares for upcoming elections, Cottarelli remains focused on his advocacy work, though he has dismissed rumors of a potential candidacy for mayor of Milan. He stated that while he would consider such an opportunity if it were offered, there has been no formal proposal to date. For now, his attention remains on pushing forward the legislative agenda aimed at increasing fiscal transparency and accountability.