The debates of the early electoral campaign for the legislative elections are already affecting many points linked to the heritage of the French. Retirement, savings, real estate and taxes… Professionals in the sectors in question react to the proposals of the three blocks already in the race for Matignon.
Of the three blocs currently in the race, it is the National Rally and the new Popular Front which are already displaying their programs. The presidential camp’s speech is limited, for the moment, to defending the results of previous years, or to formulating certain campaign promises, such as the reduction of energy bills.
Concerned, just like French households, real estate, retirement, savings and tax professionals are reacting to the candidates’ proposals. Also, regarding the promises of all, the president of the Cercle de l’Épargne, Philippe Crevel, affirms that “ the government, whoever it is in July, will have to face a degraded financial situation with increasing mistrust from the markets. Either we enter another cycle, with significant losses for savers, or there is a return to a certain form of pragmatism “. Philippe Crevel also warns of the possibility of “ enter a period of turbulence with two blocks which propose programs breaking with what has been done for around forty years “.
The RN provides “ both measures to sharply increase spending with pensions, the reduction in VAT and a reduction in income tax. There is a problem of public deficit and compliance with the stability pact. We are already seeing an increase in rates on OATs. This phenomenon can only increase », explains Philippe Crevel. The new Popular Front declines, according to Philippe Crevel, a “ program marked very left. It was 1936 and 1981, with the stricto sensu rejection of the stability pact and therefore a questioning of France’s participation in the euro zone. “.
Professionals doubtful about pension promises
For his part, while observing reservations about the position of the new left front and the RN, which both intend to reform the current pension law, Gilbert Cet, president of the COR, affirmed, on June 13 during a ‘a press conference, that ” it is not the role of the COR to make recommendations on reforms, nor to evaluate the proposals of this or that “.
Valérie Batigne, president and founder of Sapiendo retirement, replies, for her part, that “aith a law, it is always possible to repeal a reform. But it is not that simple “. “Beyond the increase in the legal age, let’s not forget that there has been a lot of progress for policyholders as part of the reform, particularly for women and minimum pensions. The number of people eligible for early departures has also increased. There are unfavorable and favorable elements. If we repeal, what are we repealing? You have to be precise “, she emphasizes.
The abolition of the real estate wealth tax (IFI) is a good signal for the real estate market, believes the president of the National Real Estate Federation (FNAIM), Loïc Cantin, who believes that “ measure is likely to restore investor confidence “. “ The IFI was a tax repellent to rental investment. This is therefore a good signal for the real estate market. “, he continues.
Loïc Cantin also says he is in favor of the idea of creating a zero-interest loan “ if this can help first-time buyers “. On the other hand, he questions the State’s capacity to finance the candidates’ housing policies because ” the debt is such that spending on this sector requires a lot of control and awareness of the budgetary impacts “. Furthermore, the obligation to compulsorily regulate rents in tense areas is seen by Loïc Cantin as a measure which will have the effect of accelerating the attrition of the rental stock. This is therefore largely detrimental to the most precarious households.
Finally, for his part, Régis Bégué, partner at Zadig Asset management, is counting on the markets to stop the application of the hardliners’ programs, because if the latter were to be implemented, ” savers would have a lot to worry about “.
