The National Assembly adopted on the evening of Thursday, July 9, a third emergency budget to face the "unprecedented crisis" of the coronavirus, with a debate on the ecological counterparts to the public aid granted to companies.

This third amending finance bill provides for an additional 45 billion euros to help tourism, the automobile and aeronautics. Adopted at first reading with the votes of the majority and those of LR, it must now be examined by the Senate.

In total, the government has been claiming support from "460 billion euros" since the start of the crisis, including loans or simple state guarantees.

It is a "vast safety net, representing more than 20% of our national wealth," argued budget rapporteur Laurent Saint-Martin of the LREM party.

Considered since June 29 by deputies (and interrupted because of the arrival of the new government), this bill expects a historic recession of 11% of gross domestic product (GDP) in 2020, a deficit that is still widening (11.5% at the end of the debates) and a public debt which swells to 120.9% of GDP.

It provides 18 billion euros for tourism, 15 billion for aeronautics and displays 8 billion for the automotive plan. It also confirms aid of 4.5 billion euros to communities, when their revenue melts with the crisis.

"800,000 job cuts at least", according to Le Maire

During the debates, the Minister of the Economy, Bruno Le Maire, in particular evoked a "cantonment" of the "Covid debt", a treatment with share which could make it possible to spread out in time its amortization, "for example until 'in 2042 ".

He also said he expected "at least 800,000 job cuts" by the end of the year.

>> Read also: Covid-19 in France: job destruction has doubled compared to last year

Several fiscal gestures were added during the discussions, intended for carers, soldiers or to support the press. However, a large number of requests were referred to the overall recovery plan expected at the start of the school year.

More transparency on the ecological impact of businesses

The final day of discussions was marked by a debate on ecological compensation for public aid. The Assembly voted for an LREM measure calling for "strong" ecological commitments from large companies, with the annual publication of a "report" on the reduction of their greenhouse gases and a fine of 375,000 euros in the event of default to these publication obligations.

"A lure" and simple "greenwashing", denounced the left and environmental NGOs.

The deputies have also adapted the partial unemployment scheme and extended social ordinances for Guyana and Mayotte, where the state of health emergency is extended until the end of October, due to a "worrying" health situation.

The Assembly also adopted a government amendment simplifying the mobilization of the supported employment scheme for people with disabilities.

With AFP

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