Bruno Le Maire as soon as once more excludes any tax improve in 2025, after the downgrading of France's sovereign score by S&P | EUROtoday

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The Minister of Economy and Finance, Bruno Le Maire, as soon as once more dominated out any tax improve in 2025, the day after the downgrading of France's sovereign score by the S&P company, attributable to persistent authorities deficits. nation, Saturday 1er June. “There will be no tax increase” in 2025, declared Mr. Le Maire on BFM-TV, “increasing taxes is not part of the range of options” of the federal government.

Asked a few attainable deindexation of retirement pensions and social advantages to inflation subsequent 12 months, a possible financial savings route, the Bercy tenant replied that no resolution had been taken. “For 2025, no decision has even been prepared yet, since I will prepare them with the oppositions”he clarified, with a view to the following finance invoice, including that he would “look at all the options that make it possible to restore public finances in 2027”.

The authorities finds itself beneath strain, after the downgrading of its sovereign debt score on Friday by the S&P score company, “AA” has “AA-”, the specter of which had been looming for a number of quarters. To justify its resolution, S&P explains that “French public debt as a proportion of GDP will increase due to larger than expected deficits in 2023-2027”a darker imaginative and prescient than throughout its earlier evaluation, in December 2023.

The minister as soon as once more justified, in a really private tone, the widening deficits since 2020 by bills linked to the Covid disaster and the power tariff defend. “If today we have a high level of debt, that’s why? It’s because I saved the French economy”underlined Mr. Le Maire. “I saved the factories, I saved the restaurateurs, I saved the hoteliers, I saved the world of events, I saved jobs, skills, the aeronautical industry”he listed, including to the checklist that he was proud to have additionally saved Renault and Air France.

Read additionally | Standard & Poor's: a nasty score for France's financial credibility

The authorities seeks 20 billion euros in financial savings

The minister highlighted the ten billion euros in financial savings in state spending determined initially of the 12 months and his need to hunt 10 billion euros in further cuts in 2024. In a video broadcast on YouTube, the minister insisted by declaring: “We will continue on exactly the same path, without speeding up or slowing down, but sticking to our strategy. »

For the opposition, this strategy is a “poor management of public finances” from Bruno Le Maire and Emmanuel Macron, in accordance with a message posted on by the president of the Les Républicains occasion, Eric Ciotti, after the announcement of the downgrading of France's credit standing by S&P.

Marine Le Pen considers, for her half, additionally on that “the catastrophic management of public finances by governments as incompetent as they are arrogant has put [leur] countries in very serious difficulties with record taxes, deficits and debts”. The president of the National Rally group on the National Assembly calls on the French to sanction “heavily” Emmanuel Macron within the European elections to forestall the federal government from imposing “an ineffective and unfair social and fiscal “purge”” after the election.

The tone is identical at La France insoumise, which judges in a press launch that the federal government “use oneself[a] of this deterioration to say that we must redouble our efforts in reducing public spending and attacks on social protection in order to reduce deficits”. “The rating agencies, like the debt scarecrow, are only pretexts to increase austerity and supply-side policies”denounces the left occasion.

Read the decryption | Article reserved for our subscribers The downgrading of France's score by Standard & Poor's, a warning shot for the federal government

The World with AFP

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