France will lower taxes on production by an amount of 20,000 million euros to promote industrial recovery and thus avoid relocations in other countries, confirmed Thursday the French Minister of Economy, Bruno Le Maire. A lowering of taxes that the French employers have long claimed.

This reduction in production taxes would be done in two phases "10 billion next year and 10 billion in 2022," Le Maire said in an interview with France Inter radio. The goal: " Make it cheaper to open a factory in France and relocate an industrial activity in France."

Le Maire considers the relocations to be "an economic scandal and a political error, for which we are all collectively responsible." "We have let go of our factories, our skills, entire sectors, we have weakened industrial sectors for 20 or 30 years because we have failed to make a number of courageous decisions to improve our competitiveness, invest in skills and innovation," lamented the manager. of the Economy portfolio.

The minister assures that the French Government is committed to relocating its industry "to be sovereign in medicines, automobiles and aeronautics ". And it is clear that in order to attract industrial companies it is necessary to lower the production tax.

"If you want industrial companies to settle in the territories, they should not pay - even before they make profits - five times more production taxes than in Germany ," the minister explained in an interview with the France 2 television network on Wednesday. From now on, "producing in France will be cheaper, it's that simple," the minister announced.

The French government has not yet specified what the taxes on production will be. But Le Maire has been in the past favorable to "a significant reduction" of the Quote on the Added Value of Companies (CVAE), based on the volume of business and from which the regions currently benefit.

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