The public deficit at 6.1% of GDP in 2024 is “the choice of the current government”, rejects Bruno Le Maire

“I am no longer in office, I am no longer a parliamentarian, I am free.” Summoned this Thursday, November 7 to the Senate for a hearing on the slippage of the public deficit, the former Minister of the Economy Bruno Le Maire brandished his “freedom of expression” found and tried to defend its balance sheet… Starting by ensuring that the deficit at 6.1% of GDP in 2024 was “the choice of the current government” of Michel Barnier, and not of the government of which he was part. “I will bring you all the evidence that we could have had in 2024, with more vigorous recovery measures, a deficit of around 5.5%.”

Bruno Le Maire also refuted any “mistake” or “deception” of the government of which he was a part, ensuring that the deterioration of public accounts was not known before the beginning of December 2023, blaming the work of the administration. There was “a serious technical error in evaluating revenue”he assured, recalling that “neither the cabinet nor the minister says a word” on this assessment. The former minister, however, insisted “assume all [ses] responsibilities” inasmuch as “head of this finance administration”.

“No substantive disagreement” with Emmanuel Macron

“The Minister of Finance does not decide everything, alone in his office in Bercy”insisted Bruno Le Maire, recalling that decisions concerning economic policy and public spending are taken collectively by the government. He recalled having lost arbitrations, notably when he had proposed “in August 2023 the slightest revaluation of social benefits and pensions”.

More “you do not resign for a lost arbitration”estimated Bruno Le Maire, otherwise “there is not a minister who would last more than three weeks in office”. However, he claimed that he did not “no substantive disagreement with the President of the Republic”with whom he “shared the same economic policy objectives: growth, full employment, a return to below 3% deficit”.

More information to follow on Le Figaro…