2024-10-19 04:15:00
Huge flaws. In three days of debates within the Finance Commission of the National Assembly, a worrying observation emerged from Michel Barnier’s government. The 2025 budget satisfies neither the left nor the far right, and the governing coalition groups have dissociated themselves from their prime minister’s budget choices, preferring to do their part.
Without a majority in the Assembly, the tenant of Matignon can only note the regular unraveling of the first part of the finance law (PLF) on revenue. The much vaunted balance, with 60 billion euros in savings, of which 20 billion in new revenues deriving mainly from temporary tax increases to contain the deficit, remained incomprehensible to the deputies.
The president of France insoumise (LFI) of the finance commission, Eric Coquerel, called for a budget on Friday «PFN [Nouveau Front populaire]-compatible » creating, according to him, more than 55 billion euros in additional revenue. Gains obtained thanks to dozens of amendments that introduce tax levies on large companies and large estates, targeting income from capital and property. These amendments were adopted by heterogeneous and casual alliances, bringing together MPs from the left, the National Rally (RN), the Freedoms, Independents, Overseas and Territories (LIOT), the MoDem and even the republicans.
A tax on “super profits” approved.
The following day, the deputies collectively rejected, in the name of defending the middle classes, the increase in the tax on electricity, which would have brought in 3 billion euros to the State, the increase in the car fine and the increase in taxes for gas boilers. The “exit tax”, another tax that aims to limit fiscal exile, has been strengthened, while the Macronist majority had reduced it, upon its arrival, to create greater economic attractiveness.
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