Emmanuel Macron will speak Tuesday, July 14, from the Elysée Palace, as part of a televised speech. He should present his plan to revive the economy in a France weakened by the health crisis.
This will be at the heart of Emmanuel Macron's television address Tuesday July 14: the economic recovery plan. It takes shape and there is no shortage of ideas. It is a classic before the major government arbitrations: each pushes his pawns to defend his interests, industry, construction, SMEs…
Sunday on Europe 1, the Minister for Housing Emmanuelle Wargon lifted a corner of the veil by saying that the recovery plan would include an envelope of 4 to 5 billion euros for the building sector and in particular to finance insulation works thermal. This construction sector is 10% of the economy and roughly the same proportion of private jobs, so it's key. The stimulus will also include a fiscal component.
This is a point to which Bruno Le Maire is very attached: he wants to lower what are called production taxes which have been highly criticized for years because they weigh on the activity of companies, even before they start to generate a penny of profit. In the sights of Bercy is precisely a tax called the CVAE, it is a value added tax that weighs down "made in France" and encourages the installation of factories in other countries. This tax brings in 19 billion euros. The problem is that half is perceived by the Regions who do not want to lose these resources without anything in return. But given the gravity of the coming crisis and the risks of chain bankruptcies, the pressure to reduce this criticized tax is very strong.
The great fear of the government is indeed the multiplication of business failures at the start of the school year. In the short term, this is the biggest threat. There is talk of a 60 to 80% increase in bankruptcies by the end of the year: this is what economists close to the government say. To avoid this scenario, one of the options on the table would be for the State to give up part of its claims on the most indebted companies. In the same way, part of the loans guaranteed by the State could be transformed into capital to strengthen the equity of companies whose financial situation is fragile.
Finally on the social side, massive measures are expected in particular for the employment of young people with exemptions from charges and / or hiring bonuses, Emmanuel Macron will specify it tomorrow. We say "recovery plan", we should rather say rescue plan because the collapse of the economy awaits.