Which Eric Lombard has just arrived at the head of the Ministry of the Economy? A respected financial professional, the former banker and insurer spoke truthfully about the reality of France's accounting situation. He said he was determined to “treat our endemic evil, the deficit, and its consequence on the debt which is choking the country”. And this, without killing growth, the economic situation being “fragile” and businesses being “the engine of the economy”. At first glance, we can only subscribe to such comments, which echo those made by François Bayrou and the “budget Himalayas” at the foot of which his government finds itself.
But we can also wonder about the “convictions” that the former general director of the Caisse des Dépôts intends to bring to the front of social “justice” and a better “distribution of income”. Rather classified on the left, the latter has said in the past that he is a supporter of an organized, regulated, tempered economic liberalism – in short with more State –, relying in particular on the theses of Thomas Piketty in favor of a drop in the return on capital (doesn't this amount to being less innovative, less productive?).
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Emmanuel Macron to François Bayrou: “it’s up to you” for the new government
We know the future finance law will be under the pressure of opposing forces between, on the one hand, the taxophiles in favor of an ever more generous redistribution, and, on the other, the defenders, unfortunately few in number, of a reduction in the lifestyle of administrations. To reduce the deficits, Michel Barnier aimed for an effort of 60 billion euros based for a third on taxation and two thirds on less spending. Will we be at the same point in a few weeks? On the contrary, will we not have more tax increases now that Bercy's center of gravity, apart from the short Antoine Armand parenthesis, seems to have slipped somewhat to the right (Bruno Le Maire) to the left (Eric Lombard)?
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