the budgetary marathon begins at the National Assembly and each party wants to push its ideas

During the budgetary sequence which opens in the National Assembly, each party wants to put forward its ideas. So many proposals which will be pitfalls for a government with a relative majority. The ordeal has already begun with several setbacks inflicted on the executive, from the first examination session in the Finance Committee on Tuesday October 10. And that’s just the beginning.

Horizon and Modem: cumbersome allies

Horizons may well be an ally of Emmanuel Macron, but Édouard Philippe’s party would like to reduce income tax for the middle classes from 2024, for a little more than 10 million households. The cost is estimated between three and five billion euros. “Everyone has lots of ideas for spending money, especially when it’s popular. But there are a lot fewer ideas for saving”torpedoes a Bercy advisor, before adding: “I believed that Édouard Philippe was committed to the proper keeping of public accounts”. The philippists promise to compensate to the nearest euro, there is no question of being seen as irresponsible spenders: “we don’t want to let go, explains a Horizons MPwe need to support the middle classes more”.

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There are also likely to be lively debates with Modem because François Bayrou’s friends are proposing to tax share buybacks, when a large company buys back its own shares, in order to better remunerate its shareholders. The Modem denies being a party “far left rabids” but wants “more tax justice”, except that Bercy sees red when the word “tax” appears. A minister is categorical: “we are going to kill any desire for a new tax coming from our majority, because half of the French already believe that we are increasing taxes”. If measures contrary to the will of the executive were to be adopted, such as the taxation of superdividends on Tuesday evening, the government could in any case make them disappear thanks to 49.3.

Nupes suspends its counter-budget project

The opposition also wants to take advantage of the budgetary sequence to get noticed. The RN will defend VAT cuts and tax credits. LR will officially present its counter-budget next week, the date of Tuesday October 17 holds the key. It was also the date chosen by Nupes to unveil the left’s countermeasures, but this is pending. Tuesday afternoon, ecologists and communists participated in the working meeting with LFI, but not the socialists because of the attitude of La France Insoumise towards the Hamas terrorist attack against Israel.