the winners and losers of Macron’s five-year term

This is already one of the major themes of the presidential pre-campaign: purchasing power should, in all likelihood, remain at the center of the concerns of the French between now and the April 2022 election. evolved during the mandate of Emmanuel Macron, who had started his five-year term wearing the label of “president of the rich”? It is to answer this question that the Institute of Public Policies (IPP), an independent research organization, published, Tuesday, November 16, an in-depth assessment of the consequences, on households as well as businesses, of tax and social measures. taken between 2017 and 2022. This annual study, which The world was able to consult, allows to draw up a first assessment of the economic policy of the Head of State, and to determine who are the winners and the losers.

Compared to 2017, almost all French people have seen their standard of living (that is to say their income, work or capital, after payment of taxes and payment of social benefits) increase by 397 euros per year on average (+ 1.6%). With one notable exception: the lowest 5% of households (those who live on less than 800 euros per month), which have lost up to 0.5% of purchasing power (up to 39 euros over one year). ).

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Inequalities have therefore increased between the bottom and the top of the standard of living scale. At the individual level, 80% of the poorest 1% are even losers over the five-year term, against a quarter of the wealthiest 1%. “There is a lot of heterogeneity among the most precarious situations, nuance Brice Fabre, economist at the IPP and one of the authors of the study. But, at the start of the five-year term, they suffered from lower revaluations of social benefits, limited in amount but numerous (reform of housing assistance, family benefits less revalued than inflation, etc.). ” Especially since these are the most disadvantaged categories, in proportion, by the taxation of tobacco and energy. “These conclusions seem fragile, as suggested by the shocking profile of the results at the level of the first percentiles”, we defend ourselves at Bercy.

“Emmanuel Macron’s economic and social measures have more strongly favored the working population and the holders of wealth”, summarizes Antoine Bozio, the director of the IPP. He underlines the major role played by the increase in the activity premium and the reform of the taxation of capital (abolition of the solidarity tax on wealth, replaced by the tax on real estate wealth, and establishment of a single lump-sum levy or “flat tax”), but also the abolition, in 2018, employee health and unemployment contributions, offset by an increase in the CSG.

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