The Ministry of the Economy begins to groom the draft budget 2024

About two weeks ago, the Prime Minister, Elisabeth Borne, had instructed her entire government to find sources of savings up to 5%, each of the ministries being involved. For Bruno Le Maire, this represents seven billion euros which will go in part, according to the minister, to the financing of initiatives taken by the State in the name of ecological transition.

How the services of Bercy arrive at this calculation

This figure does not include debt charges, that is to say the money spent by the State to repay its public borrowing maturities. Are also out of scope, the contribution of Paris to the European budget, the salary of civil servants and certain social aid such as APL, personal housing aid. In total, the savings will have to be made on some 140 billion euros of expenditure identified as adjustable. It is up to the various ministers to find out of these 140 billion the famous 5% savings on their expenses.

Sources of savings

Details will be presented in the fall with the 2024 Finance Bill. Until then, Bercy’s computers will be running at full speed to identify all possible sources of savings. Bruno Le Maire has already announced a general review of public spending.

A few avenues are circulating, such as the introduction of a chargeable balance on personal training accounts, which are more successful than expected and therefore cost the State more. 30% savings would be possible on this side, but the negotiations with the social partners promise to be difficult. The credits granted to the housing policy (except vital aid) are also part of the targets envisaged but, here again, the discussions promise to be complicated, and the list is far from being exhaustive. We call this trial balloons: we launch the idea and we wait for the reactions of the main players. Everyone will soon be able to speak at the public finance meeting, the meeting is scheduled for the end of June.