Inflation, the Ukrainian crisis, post-Covid turbulence… purchasing power is essential in this presidential campaign.
In order to preserve the consumption of the French, undermined in this year 2022, the candidates compete with proposals.
20 Minutes
takes stock of the most important measures.
Discarded at the start of the campaign in favor of themes on security and immigration, purchasing power has returned to the heart of the 2022 presidential election for a few weeks.
A priority subject for 57% of French people according to an Elabe poll on March 16, 2022, between war in Ukraine, rising energy prices, uncertainty of post-Covid recovery and global inflation.
This is twice as much as health (28%) and security (24%), which complete the podium, and ahead of the war in Ukraine (15%).
The current government has invested heavily in purchasing power in recent months, by chaining measures: energy check, gas price shield, capping electricity prices... Latest launch to date this Friday, with a discount of 15 cents on the price of a liter of fuel.
Actions which of course do not prevent the other presidential candidates from also wanting to impose themselves on this theme.
Small review of the strength of the different proposals.
Minimum wage
A measure of the left par excellence, the increase in the Smic is planned by most of the candidates of this political side.
An increase of 10% for Jean-Luc Mélenchon (LFI), 15% for Anne Hidalgo (PS) and 18% for Yannick Jadot (EELV) and Fabien Roussel (PC).
All knowing that the Smic is the only salary in the private sector on which the State can force an increase, since it cannot intervene in the salary grids of companies.
But raising the minimum wage can prove counterproductive, according to economist Stéphanie Villers: “Raising the minimum wage often leads to wage stagnation, which does not help purchasing power.
This generates jobs at minimum wage.” According to the expert, too high a minimum wage would make it even more difficult for companies to pay higher incomes.
In 1967, only 2% of employees received the minimum wage, compared to 12% in 2021. The economist reminds us that France already has one of the highest minimum incomes in Europe.
Macronie was also careful not to touch it too much during the five-year term.
Lower payroll taxes
Not wishing to touch the minimum wage, the right wants to increase purchasing power by lowering social charges, which should allow companies to increase wages.
This is in particular the flagship measure of Valérie Pécresse (Les Républicains).
She aims, at the end of her five-year term, to increase the lowest salaries (less than 2,800 euros net monthly) by 10%, including 3% from the first year of her presidency.
For this, the Republican candidate wants to reduce the old-age contributions paid by workers by 2.4 points, a measure that would be entirely borne by the State.
Eric Zemmour (Reconquête) wants to reduce the generalized social contribution for workers earning less than 2,000 euros net per month, when Marine Le Pen (RN) proposes exemption from employer contributions for any salary increase of 10% (for salaries up to three times the Smic).
Emmanuel Macron wants the abolition of the audiovisual royalty and the abolition of the contribution on the added value of companies.
Measures which are not without questioning, underline Stéphanie Villers: “The reduction in social charges obviously has a cost for the State, but the programs are rather vague on it”.
A State whose deficit is also particularly high after the "Whatever the cost".
For Valérie Pécresse, the compensation must be made by several major reforms such as pensions, the degressivity of unemployment insurance, the elimination of 150,000 civil servant positions.
Eric Zemmour wants to limit social benefits for foreigners.
Emmanuel Macron wants to limit the RSA by forcing an activity, and also to reform pensions.
Inflation
For Stéphanie Villers, this is the big lack among the candidates.
“They composed their program in November 2021, well before the Ukrainian crisis and with inflation at less than 2%”.
Far, very far from the current situation, the Banque de France predicting a possible inflation of more than 5% for the year 2022. A figure “not reached for decades”, specifies the economist.
Consequence: “the programs hit next to the current situation and no longer respond to the concerns of the French”, insists Stéphanie Villers.
While it is of course normal for candidates to look at the long term, “inflation is such today that it would have been important to respond to it specifically.
“For example, the 3% wage increase desired by Valérie Pécresse from the first year “was in line with inflation at 2%, but obsolete with a price increase of 5%.
Without necessarily going through the rise in the minimum wage, specific measures would have been needed for low wages, the most affected by inflation”.
energy
This is the only economic aspect of the Ukrainian crisis that is really taken into account.
Jean-Luc Mélenchon calls for a freeze on gas and electricity prices.
Anne Hidalgo, Valérie Pécresse and Marine Le Pen want a reduction in VAT on energy prices to 5.5%.
A measure deemed "demagogic" by Stéphanie Villers: "France already has a chronic deficit to manage, we should explain where we will find the money for such a reduction in energy VAT"
The method is more cyclical for Yannick Jadot and Fabien Roussel, who propose to increase the price of the energy check.
Work more to earn more
Finally, the great mantra of the right: the possibility of working more to increase its purchasing power.
Emmanuel Macron wants to set up a monetizable universal time savings account for the RTT, when Valérie Pécresse wants the tax exemption of overtime.
Just like Eric Zemmour, who adds zero charge bonuses (up to three months of additional net salary with zero Urssaf)
Society
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Paris: A demonstration for purchasing power overshadowed by the news, candidates with absent subscribers
Economy
Presidential election 2022
Elections
purchasing power
salary
Emmanuel Macron
Marine Le Pen
Jean-Luc Melenchon
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