To achieve a public deficit of 5% of GDP next year, Antoine Armand does not rule out new savings “during the year if necessary”.
The Minister of Economy and Finance Antoine Armand wants to “mitigate” the increase in employer contributions on low wages planned in the 2025 budget, in exchange for “other efforts” which could relate to working hours.
“The government hears the concerns expressed by businesses and the EPR group (Together for the Republic, Editor’s note) in particular, concerning the potential impact on employment” of the five billion planned reductions in charges, declared Sunday 3 November the Minister of Echoes.
Possible increase in working hours
“I would like us to improve our proposal by starting by reducing the increase in contributions on low wages. We will have to find other efforts”, which can “take several forms, in particular an increase in working hours – which remains insufficient in France”, estimates the minister.
The abandonment of a second public holiday “is one avenue among others”, according to him. In the budget, there is also no question, he assures, of “touching the Dutreil Pact” on business successions, nor “what made the research tax credit successful”.
Mr. Armand, who will participate in the meetings of the Eurogroup and Ecofin in Brussels on Monday and Tuesday, says he is in favor of a postponement of the CAFE regulations imposing sanctions from 2025 on car manufacturers who do not sell enough electric cars.
For him, “manufacturers firmly committed to the electrification of vehicles” should not be affected next year.
“A little European common sense”
He will also discuss in Berlin on Friday, with his German counterparts, the CSRD directive on the extra-financial reporting of companies, which is gradually coming into force. “Without calling into question the objective” of the circular, he calls for “a little European common sense”, estimating that “the number of companies concerned and compulsory indicators is not reasonable”.
On the role of the State-shareholder, Mr. Armand believes that it “must be strategist” and announces that it “will evolve the doctrine from the beginning” 2025.
He will be in Calais on Tuesday, for the signing of the State's takeover of 80% of Alcatel Submarine Networks, which produces and installs submarine cables, “key strategic assets”, according to him.
The minister will bring together “in the coming days” a scientific committee responsible for evaluating Bercy's economic models, after the unexpected slippage of the public deficit this year, which led to the creation of a parliamentary commission of inquiry.
To achieve a public deficit of 5% of GDP next year, Mr. Armand does not exclude new savings “during the year if necessary”.
