Examination of the 2025 budget resumes in the Senate. François Bayrou plans 32 billion euros in savings and 21 billion euros in tax increases, according to Le Parisien. This will still have to be adopted.
François Bayrou did not make a clear announcement during his general policy speech, delivered to the National Assembly on January 14. As reported by Le Parisien, the major objectives are still known and the work has started in Bercy. Indeed, the examination of the finance bill (PLF) begins in the Senate this Wednesday, January 15.
In this budget, there would be 32 billion euros in spending cuts and 21 billion euros in revenue increases. All for a public deficit set at 5.4%, even if the executive expects 5.5% or 5.6%. Growth is estimated downward at 0.9%, compared to 1.1% originally envisaged by the government.
In order to increase revenues, the government would consider maintaining the surtax on the largest companies for one year, which will be voted for the 2026 budget but collected from 2025. According to the Minister of Public Accounts, the tax on banknotes plane would be maintained, as well as the reduction in reductions in charges for businesses.
In this budget, there would also be an increase in the tax on financial transactions, from 0.3% to 0.5%. However, Éric Coquerel, the LFI president of the Assembly's finance committee, assures that such an increase is constitutionally impossible to integrate into the budget text. According to him, “we can no longer add a new tax measure to the text under debate”.
What savings are envisaged?
In order to achieve 32 billion savings, or 9 billion more than in the text that Michel Barnier tried to pass, the government would count “maintain the 4,000 job cuts in National Education”, assures Éric Coquerel to our colleagues. The government would also consider reducing Covid aid which is still in force, such as energy. In addition, 2 billion euros in savings would be made on social and health spending.
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