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The CGT denounces "the programmed death of the Livret A" which must fall further

2020-01-17T14:49:05.384Z

By further lowering the rate of return on this very popular investment, savers could turn away from the Livret A, considers the CGT



The Livret A remuneration rate should drop to 0.5% in February 2020. - Pixabay

Will Livret A survive this new drop? This Friday, the CGT of the Caisse des Dépôts group (CDC) denounced “the programmed death” of this investment and a “hold-up of the century” for the benefit of banks and the government after Bercy's announcement of the lowering of his rate of pay at 0.5%

"The CDC, protector of popular savings, plays here" the useful idiot "of the government, by abusively justifying this drop in remuneration by a hypothetical interest in social housing", criticizes in a press release the first union of the group. "It is indeed a billion euros that will be stolen from popular savers for the sole benefit of banks and the State," adds the union, with reference to the Livret A but also to the other regulated savings books (Livret de sustainable development and solidarity and popular savings account) whose rates will fall.

"Questioning the sustainability of the Livret A"

The government announced on Wednesday that the rate of the Livret A would fall from February to its floor level of 0.5%, as expected by its new calculation formula, a decision intended to stimulate the financing of public policies and encourage the French to diversify their investments.

The Livret A is used to finance regional development, and in particular social housing, through the Caisse des Dépôts which centralizes part of the savings deposits. It thus has resources to grant loans to the various actors (social landlords, SMEs, communities).

By lowering the Livret A rate from 0.75% to 0.5%, the government is taking the risk of allowing the real value of the savings entrusted to Livret A to deteriorate mechanically. "One can wonder if the ultimate objective of this measure is not to question the sustainability of the Livret A itself and of its centenary role in the financing of social housing to open it to the markets, in a vast momentum of commodification and financialization ”, regrets the CGT, which sees there "the announced death of the Livret A".

Economy

Savers more than ever seduced by the Livret A and life insurance

Economy

Savings: Why do the French draw from their Livret A?

  • CGT
  • Economy
  • Society
  • A booklet

Source: 20minf

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