The Minister of the Economy was the guest of the France 2 political program Thursday evening. He notably took stock of food inflation, purchasing power and growth objectives for the coming year.
He wants to be resolutely optimistic for the year to come, both on the inflation front and for French growth. Bruno Le Maire worked hard to defend the government’s budgetary decisions, Thursday September 28 on France 2, during the program “L’Evénement, l’interview”. Twenty-four hours after the presentation of the 2024 budget, the Minister of the Economy promised a drop in food prices, while affirming that “the French are not getting poorer”. Franceinfo summarizes what to remember from this interview with journalist Caroline Roux.
Inflation: France will not find “previous prices” on food products
“I think the year 2024 will be better than the year 2023”explained Bruno Le Maire, adding that he expected a decline in prices “important” in the coming months. “Look at the social minimums, they are all indexed to inflation. Look at the pensions” , he added. Regarding the increase in food prices, the minister admitted that they would not return “at previous prices” the crisis, but he once again reiterated his desire that “Prices could decelerate and go downward.” The minister detailed his “objective” : “that the money does not go into the margins of distributors or manufacturers, but into the [baisses de] price on shelves.
“We have decided to advance negotiations between producers and distributors”recalled Bruno Le Maire, with the view that “prices fall as soon as January”. “I have hundreds of agents who will take care of the margins (…) price controls on the shelves and watch over the margins”, also affirmed the minister, when asked about the control measures implemented by the government. Bruno Le Maire referred to the establishment of the Price and Margin Observatory and the work of the Directorate General for Competition, Consumer Affairs and Fraud Prevention (DGCCRF).
Decline in purchasing power: “the first answer” is “work”
The Minister of the Economy once again rejected the proposal to index salaries to inflation, judging that such a measure would “increase unemployment”. “The first response to purchasing power, to fear about prices, to fear about the standard of living, is work”he explained before listing the support measures put in place by the government for households, in particular the new 100 euro fuel check for 50% of French people who need their vehicle to get to work.
On the question of increasing salaries, Bruno Le Maire affirmed that “THE French people are not getting poorer not”explaining that they “have incomes that increase steadily year after year.” The minister, however, explained that“they have become poorer relative to two other great nations”citing the example of the Germans and Americans. “Jhe considers that the companies played the game”he added, highlighting average increases “by 5%” in 2023 (4.5% in reality according to a research firm).
Growth forecasts: optimism displayed for 2024
The Minister of Economy reaffirmed his optimism about the country’s economic situation. During the presentation of the 2024 budget on Wednesday, the State announced that it was counting on growth of 1.4% for next year. A judged forecast “high” by the High Council of Public Finances. The European Commission takes its side on French growth of 1.2%.
Nothing to discourage Bruno Le Maire, who believes in “positive growth, higher than that of 2023”. “We were told: ‘In 2023, there will be a recession everywhere in Europe, including in France.’ I think we don’t believe enough in the talents and strengths of our economy, our employees and our entrepreneurs.”he swept away.
Ecological transition: a helping hand to private investors because the State will not be able to finance everything
How to finance the ecological transition when France must tighten its belt? “There will not be enough public money”otherwise “to increase taxes”assures Bruno Le Maire, after the presentation on Monday of the government’s roadmap on the subject. “We refuse this solution”, he says. He therefore extends his hand to private investors “who must participate in this fight against global warming”.
The Minister of the Economy had also caused controversy at the start of the week, even within the majority, after having opened the door to a postponement of the ban on thermal strainers, scheduled for January 1, 2025. On France 2, he returned to his comments on Thursday evening, insisting on the need “to support everyone” in the transition.
Presidential 2027: Bruno Le Maire has “many dreams”, but only one priority
Asked about his presidential ambitions for 2027, the former candidate for the right-wing primary responded cryptically: “I have many dreams”before asserting that his priority was the present moment, namely the fight against “the cost of living”.
“There will be no one on the starting line who is capable of winning in 2027 [au sein de son camp] if we don’t have results”he kicked in touch, before asserting that “it’s the collective that wins, and we’ll see what happens.”