The Minister of Economy and Finance, Bruno Le Maire categorically refuses to index wages to consumer prices. And this, despite the demands made by the unions. This system is in force in several European countries.
Bruno the Mayor refuses the indexation of wages to inflation. The Minister of Economy and Finance dismissed this request again on Wednesday at the opening of debates in the Senate on the budget programming law. The indexation of wages to inflation is however requested by several unions and in particular the CGT. But Bruno Le Maire wishes to avoid the inflationary spiral which had been provoked in the 1970s by a general and automatic wage increase fully decoupled from labor productivity.
Emmanuel Macron had himself ruled out this measure during his speech on France 2 on October 26: If we want to create jobs so that working French people can live with dignity, the solution is not to reindex wages to inflation. . Wage increases are not decided by the state.
For the CGT, on the other hand, it is time to return to the sliding scale of wages which passes through a mechanism for the automatic increase of salary scales and retirement pensions on inflation. With immediate repercussions in all branches.
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Indexation has already existed in France and is still in force in Europe
The indexation of wages to inflation has already existed in France. The system was introduced in 1952 when inflation reached 25% per year and was abolished after the Glorious Thirties. Currently, Luxembourg, Cyprus, Malta and Belgium have a system of total or partial indexation of salaries to inflation.
Inflation in France has been breaking records for several months. Consumer prices increased by 6.2% over one year in October in France and by 10.7% in the euro zone. In this context, according to a study by Deloitte, companies plan to increase salaries by +3.9% for executives and +4% for non-executives in 2023.
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