VIDEO – Finance Minister promised that all efforts will focus on reducing expenses
. “The (economic) growth resumes just too slow; everything must be in the service of higher growth. “Invited to the program” The Grand Jury RTL-Le Figaro-LCI “Michel Sapin, Minister of Finance and Public Accounts, is therefore committed to there are no new taxes this year. He confirmed that after the fall of 10 billion euros in corporate expenses in 2014, these will be reduced by 12 billion in 2015.
These updates were in response to fears that have emerged after the European Commission, while postponing for two years, to 2017, the time to bring the deficit below 3% of GDP, has asked France to make more effort to clean up its public accounts. Michel Sapin wanted to defuse the controversy. He considers that between the deficit reduction path that Brussels wants and multi-annual Finance Act passed in December 2014 by the French Parliament there is no real difference. This denier has he not set a target to reduce the deficit to 2.7% of GDP in 2017, while Europe talks about 2.8%? “We will implement what we have decided sovereignly,” insisted the minister. Among these decisions, there is of course the government spending 21 billion euros reduction contained in the state budget in 2015.
Since the budget vote, new spending arisen. This is mainly EUR 940 million which have been decided since the terrorist attacks, including the creation of posts in the police and the costs of civic service that will be created. “The entirety of this new spending will be offset by the new economies,” said Michel Sapin. He recalled in this connection that Manuel Valls had provided extremely detailed list of these savings to spending ministers.
Similarly, additional expenses for external interventions of our armies will be financed by cuts other expenses in the Ministry of Defence. In this regard, the Minister of Finance noted that the oil was down half a favorable element.
However, the fact that inflation is much lower than expected is a handicap for receipts tax. “When inflation is close to zero instead of 1%, tax revenues are reduced accordingly,” he explained. Yet it would seem that the rule has a bunch more or less secret, even two. On the one hand, “it has set aside € 9 billion in reserve in the budget, as is done every year to deal with unforeseen events.” On the other hand, Michel Sapin confirmed that the government “should anyway be 4 billion of asset sales to reduce debt the state.” The minister declined to name the companies that would be the subject of these “partial privatization”. He merely noted that the State was right last year to enter the capital of PSA, since this company returned to profit.
About Greece, he believes that ” would be a tragedy for (her) out of the euro “, but not for the rest of the euro area. In a completely different note, he said that the State would recover all funds paid to Bernard Tapie.
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