The Senate tries to “moderate” Michel Barnier’s budgetary shock | EUROtoday

An austerity plan marked by excessive taxes on giant teams and the wealthiest households, but additionally offering for a further day of labor for workers, a extra restricted improve than anticipated in employer contributions, and fewer effort for native authorities… This is what the finances for 2025 may seem like. At least if, as is probably going, the ultimate textual content comes near the federal government model because the Senate started to amend it on Wednesday November 13.

After two years of deficit slippage, this finances will probably be “the one who finally marks the end of “whatever it takes”” and initiates a “massive and unprecedented recovery” accounts, already guarantees the overall rapporteur of the finances within the Senate, Jean-François Husson, elected Les Républicains (LR) of Meurthe-et-Moselle.

Forget the taxes created in latest weeks within the Assembly by tens of billions of euros, the spending revised upwards, in addition to the elimination of funding for the European Union by France. This first model of the challenge, with amendments adopted piecemeal because of the left, and generally the far proper, was carried away by the general destructive vote of the National Assembly, on November 12, on the primary half, concerning recipes. Garbage can. A primary below the V^e Republic.

“A reversal of what is planned in our democracy”

On Wednesday, the senators assembly within the finance committee due to this fact began from the preliminary state finances challenge, whereas their colleagues specializing in social affairs labored on its counterpart on the Social Security facet. Intense exchanges should happen with the federal government for a month. And it’s from the model that can come out of the Senate, in December, {that a} compromise should be present in a joint committee with the deputies, earlier than being submitted to the Assembly, undoubtedly utilizing article 49.3 of the Constitution, which permits adoption and not using a vote.

For as soon as, “so this is where the budgets will be written”, observe the senators. Some are delighted with this key function provided to them by the absence of any majority within the Assembly. The others, extra vital: “It is an inversion of what is planned in our democracy, regrets the socialist Claude Raynal, president of the finance committee. Hopefully this won’t happen again. »

With the right-wing senatorial majority supporting the new government, the 2025 budget as it stands should, in broad terms, remain close to the outline presented at the beginning of October by Michel Barnier. There is no question of modifying the central objective, consisting of reducing the deficit of 6.1% of gross domestic product (GDP), expected in 2024, to 5% in 2025. A totem figure that the executive maintains no matter what, even so few experts believe such a decline is possible: “The step is probably too high”Natixis analysts judged once more on Wednesday, who’re relying on 5.4%.

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