Can the French government tighten the fiscal screw?

Can the French government tighten the fiscal screw?

Can the French government tighten the fiscal screw?

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“At any cost”: The expression launched by Emmanuel Macron on March 12, 2020 in the midst of the Covid epidemic caused a stir. The French President pledged to save companies and workers made redundant by lockdowns: funding partial unemployment, shutting down businesses and shutting down many sectors at a cost of hundreds of billions of euros. 240 billion, according to Bercy’s figure. An important decision, a social decision, but also a medium and long-term budgetary decision. France is ready to go into debt and bet on a return to growth. Other crises, particularly related to the war in Ukraine, were there. An energy crisis, the weight of inflation. And now ?

Economics and Finance Minister Bruno Le Maire announced the end of this accommodating policy. This is also a very clear demand from major international institutions such as the IMF, which puts Paris before its responsibilities in its assessment mission known as Article IV. ” It is justified to start fiscal consolidation in 2023 “.

It’s a big problem for the government: how to restructure the finances, get back below the 3 percent threshold for the public deficit set by Brussels, without crushing households already plagued by purchasing power problems? How can businesses, including those that have to pay off their loans, raise the bar? Is France doing better than its European neighbors?

Our guests :

Stephanie Villers, Economic consultant for the company PWC in France and the Maghreb

Clementine Galles, Chief Economist at Société Générale Private Banking.

Stéphanie Villers and Clémentine Gallès, guests of Eco from here Eco from elsewhere with Bruno Faure. © RFI

Our report :

The “at all costs” has kept many French companies alive, but they are not out of the woods yet. Example with a baker and pastry chef in Beauchamp in the Val d’Oise, one hour from Paris. Nicholas Feldman the encounter.


Our interview :

France wants to protect its industry, even wants to promote it, but this sector suffers from a major handicap: it is far too male. Too few women become engineers. Too few female students take part in scientific and technical courses. Incoming education minister Pap Ndiaye has decided to act by making math a compulsory high school program for everyone again.

This announcement is commented by Amel KefifExecutive director of the Elles Bougent association, which aims to encourage young girls to access these previously male scientific professions.

Amel Kefif.
Amel Kefif. © Association “You move”


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