The Livret A regularly accustoms us to records. The month of May was no exception to the rule since the favorite savings product of the French achieved a score that we had not seen since 2020, already presented as an exceptional vintage.
The approximately 55 million French people who hold a Livret A savings account deposited just over 2.47 billion euros there last month. This significant collection has been driven since the beginning of the year by the increase in the rate of remuneration to 3%, in force since 1er FEBRUARY. This rate prompted the French to transfer part of their money which was dormant in their current accounts.
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Same observation for the LDDS (Sustainable and Solidarity Development Booklet), also remunerated at 3% and which recorded a net collection of one billion euros last month, six times more than last year at the same era. A godsend, because the money deposited in these booklets is tax-exempt and free to use, you can withdraw it when you want to do what you want with it.
Better tracking of savings?
By adding together the sums included in the Livret A and the LDDS, we arrive at a total of 542 billion euros, which is beginning to represent serious competition for life insurance products that are more supervised, less liquid and which do not not reach the 3% salary mark. What makes react the government which would like that this money is used differently. For the Minister of the Economy Bruno Le Maire, the LDDS has “sustainable and supportive than the name“. In other words, the money thus invested could be more useful, employed otherwise.
If we combine all the so-called precautionary savings products held by the French, we arrive at the astronomical sum of 3,000 billion euros. A sum that the economic institute close to Rexecode companies suggests redirecting towards risk-free investments for the saver.
This newly earmarked money would help the State which finds itself facing an investment wall, in particular some 50 billion euros per year for decarbonization. To which must be added the needs for education, the dependency of the elderly, defence… For Rexecode, the State must mobilize the savings of the French people and direct them towards non-risky productive investment, take the money where it is, not to make the saver lose and not to make him take risks. This would involve new forms of long-term investments, exempt from inheritance tax, for example, investment funds with guaranteed capital. The Lépine savings contest is launched.