Tax, pension, salary, purchasing power… What we know about the parties’ economic programs

Tax, pension, salary, purchasing power… What we know about the parties’ economic programs
Tax, pension, salary, purchasing power… What we know about the parties’ economic programs

A France with inflation not seen for 40 years, a major crisis in purchasing power and a debt which continues to burst into the stratosphere… Charges each bloc vying for the early legislative elections to present measures to change this economic situation is definitely “not great”.

But the economy is not always very exciting to follow (we know that, it’s our section), and you have difficulty understanding the programs. Come on, we’ll give you a broad recap of the main measures of each camp.

On salary

The New Popular Front (Communists, LFI, Ecologists, PS)

The group’s flagship measure, an increase in the minimum wage to 1,600 euros net per month, compared to 1,400 net currently, an increase of 14%. For civil servants, the index point will also be increased by 10%. For the rest of the workers, the NFP has thought of everything and salaries will be indexed to inflation. Housing assistance will also increase by 10%. All for a total of 25 billion in spending for 2024.

Together (Presidential Majority)

The value sharing bonus (PPV), better known under the nickname “Macron bonus”, will be tax-exempt and its ceiling will be increased to 10,000 euros per year – compared to 3,000 today. Employer contributions will be exempt under 2,000 euros of salary per month.

The Republicans

The right proposes to increase wages by lowering social security contributions to less than three times the minimum wage. Fewer contributions mean less taxed income, and therefore more net income.

The National Rally

The RN will propose a 10% salary increase, but on the voluntary basis of companies, in return for exemptions from charges.

On purchasing power

The New Popular Front (Communists, LFI, Ecologists, PS)

The left proposes to cancel the 10% tax on energy bills, not to increase the price of gas as planned for July 1, and frozen prices for basic necessities, whether in food, energy or fuel.

Together (Presidential Majority)

Regulated electricity prices should fall by 10% to 15%, assured Bruno Le Maire. First-time buyers will be exempt from notary fees at the property (within a limit of 250,000 euros).

The Republicans

Electricity taxes for financing wind turbines will be abolished (yes, that’s precise). And that’s all.

The National Rally

The far right wants to lower VAT to 5.5%, compared to 20% today, on energy (electricity, gas, fuel oil) and fuel. The total abolition of VAT on essential products will be applied “at a later stage” in the event of a victory for the RN.

On pension reform

The New Popular Front (Communists, LFI, Ecologists, PS)

For the NFP, the repeal of pension reforms is one of the “first emergencies”, along with that of the unemployment insurance reform. Instead, the New Popular Front would reintroduce retirement at 60.

Together (Presidential Majority)

For Macronie, there is no question of touching its pension reform, despite its extreme unpopularity. The reform is therefore maintained.

The Republicans

Going against the trend of the other first blocs, The Republicans wish… to push retirement up to a starting age of 65.

The National Rally

The pension reform will also be repealed, but “only in a second step”. It will be replaced by another which should allow “those who started working before the age of 20 to retire with 40 years at a legal retirement age of 60”.

On taxes

The New Popular Front (Communists, LFI, Ecologists, PS)

The left proposes 14 income tax brackets, as well as the return of the wealth tax, abolished in 2018. The Flat Tax, another flagship tax measure of Emmanuel Macron which gives a single tax rate on financial gains, whatever their amount, will be deleted. Certain tax loopholes, which are inefficient and polluting, will be eliminated.

Together (Presidential Majority)

This is one of the great mantras of Emmanuel Macron and his economic program since his first mandate: the taxes of the French will not see any increase. Inheritance taxes will also be turned upside down with no State levy up to 150,000 euros of inheritance per child and 100,000 euros for grandchildren.

The Republicans :

The right is proposing a reduction in taxes by reducing the civil service, without detailing too much what tax would be affected.

The National Rally

The RN proposes the replacement of the real estate wealth tax (IFI) with a financial wealth tax (IFF).

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