Bruno Le Maire announces “at least 10 billion in savings” to reduce France’s debt

“Now that we are back to normal, who would understand that we continue to spend so much?” AT On the occasion of the opening day of the assizes of public finances, Monday June 19, Bruno Le Maire announced that the government had identified “at least 10 billion euros in savings” to redress France’s degraded accounts by 2027.

After having escaped the sanction of the agency S&P Global, which maintained the French solvency rating, the executive intends to reaffirm its budgetary seriousness and turn the page on the support measures for the “whatever it takes” in the face of health and energy crises. To do this, the executive intends to rely on the end of the energy shield, the gains from pension and unemployment insurance reforms, and full employment, while cutting health spending or tax benefits for fuels. . Measures against the explosion of sick leave and “drifts” drug expenses, should be taken, said Bruno Le Maire.

Efforts in the face of rising interest rates

Housing aid and employment support are also in the government’s sights and should save two billion euros. Another target, the tax advantages on fuels enjoyed by certain professions such as road hauliers or farmers will be phased out by 2030, with support to enable these professions to make this changeover.

The objective is to reduce France’s debt to 108.3% of GDP in 2027 and to bring the public deficit below the European objective of 3%. Everything will be included in a programming law scheduled for September. These efforts are deemed all the more necessary as the economic environment is getting tougher, with the re-establishment of European budgetary rules next year and the sharp rise in interest rates which is significantly increasing the debt burden.