2023-07-25 10:50:49
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“Nothing justifies such abundant cash” of state operators, which have 2.5 billion euros in surpluses. A windfall that could contribute to the deleveraging of France.
«Nothing justifies that they have such abundant treasuries“, punched Bruno Le Maire. Recalling the figures from the Public Expenditure Review published yesterday for the first time, the Minister of Finance pointed to the 2.5 billion euros in cash surpluses of state operators. These public bodies, such asPôle emploi, CNRS, ADEME, water agencies» or Meteo France, were «very lucky“. In fact, the twenty or so state bodies benefit from “affected taxes, so d’revenue security, and in addition to the support of the recovery plan ”, explained Bruno Le Maire at the microphone of France Info. Hence this “abundant cashof 2.5 billion surpluses. A tidy sum on which the Minister of Economy and Finance intends to get his hands on.
From 2024, Bruno Le Maire therefore intends “get half back» the profits of state operators, i.e. 1.25 billion euros. Because “the principle of the 2024 budget is to accelerate the country’s debt reductionto finally drop below the 3% public deficit mark. “This requires a reduction in public spending“, explains the minister, boasting of a state budget “down €4 billion from the previous year, for the first time in many years».
Read alsoBooklet A: Bruno Le Maire announces that the rate will be maintained at 3% until 2025
The debt burden, the main item of State expenditure
Time is urgent and Bruno Le Maire is aware of it. “All those who listen to us know perfectly well that too heavy a debt is a danger for the French nation”. Car “If you don’t repay your debt, you’re going to face serious problems: creditors will make you pay more for your debt tomorrow. And it is neither in the interest of households who want to borrow, nor of companies who want to invest.adds the Minister.
So all the way, Bercy tightens the screw. “These little billions [repris aux opérateurs, NDLR] ultimately reduce the debt burden and avoid wasting public money“. Urgent candle-end savings to reduce the debt burden. Because such “debt burden is also squandering public money”.
The debt burden is in fact the main item of State expenditure. Information passed under the radar, and timidly confirmed by the minister who would prefer to talk about it in the future. But in reality, the figures are already relevant. Latest Monthly Status Report published in the Official Journal shows this clearly. The financial commitments of the State reach 10.724 billion euros, “mainly under the program “burden of the debt and treasury of the State” (10.724 billion’euros». Far ahead of school education and its 6.316 billion euros (usually the first item of expenditure). This is followed by defense (5.219 billion euros) and territorial cohesion (4.195 billion euros. In total, the net expenditure of the general state budget in May 2023 reached 191.043 billion euros, against 103.292 billion euros in net revenue.
In May 2022, the net expenditure amounted to 176.019 billion euros. An evolution (+€15.024 billion) which “results mainly from the increase in operating expenditure for +€7.648 billion, State debt charges for +€3.972 billion, personnel expenditure for +€2.077 billion, and investment expenditure for +€0.995 billion (difference mainly linked to the “Defence” mission)”.
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