Absorb the economic consequences of the health crisis while France is still stuck in a third confinement, or prepare the world after with the prospect of a new mandate? After more than a year of the Covid-19 pandemic, the executive is engaged in a balancing act and Bercy is no exception.
“We must be clear with the French: the restoration of public finances should only be done once the economy has restarted”, assured Bruno Le Maire, Wednesday April 14, before the finance committee of the National Assembly. MEPs auditioned both on the stability program, this five-year budgetary trajectory which must be sent to Brussels before the end of the month, and on the draft regulation law, which validates the budget for the past year. .
The Minister of the Economy wanted to be very clear: “Let everyone assume their responsibilities. Everything is not possible. We cannot say that we are going to let public spending slip away, and give up deleveraging the country, without increasing taxes ”, he hammered, recalling once again the government’s commitment not to increase the levies.
“Tax the richest? We are already doing it! In 2012, an exceptional surcharge was introduced on high incomes. In France, we love the temporary that lasts, tackled the ex-LR. Then, as that does not bring in enough, we will go down to the middle classes and enter into typically French debates on who is rich and who is not? I don’t want these debates. “
A deficit expected at 9% in 2021
An explosive subject, while the bill for the crisis continues to climb. “We estimate that cumulatively, over 2020-2022, the mobilization of our public finances to respond to the health crisis will have represented nearly 425 billion euros”, the Minister for Public Accounts, Olivier Dussopt, said Wednesday before the deputies.
In detail, the bill amounts to 158 billion euros for 2020, 171 billion this year and 96 billion expected for 2022. This aggregate figure takes into account support measures for companies, employees, health spending – three positions which represent nearly 56 billion for the year 2021 alone – but also the shortfall in tax revenue or the recovery plan. Above all, it is only an estimate, called to move according to the evolution of the economic and health situation. Even in normal times, “France has never respected the stability programs over previous years”, regretted the deputy (LR) Véronique Louwagie.
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