Tuesday, March 29, 2016

Future investments: the “aberrations” fingered – Les Echos

A “overall positive assessment, but still try to transform” . In a report submitted Tuesday to General Commissioner for Investment, Louis Schweitzer, an expert panel assesses subdued the future investment program (PIA) initiated six years ago by Nicolas Sarkozy and extended by Francois Hollande.

with a first allocation of EUR 35 billion, then a second 12 billion, which was presented wrongly as a “great loan “by the former head of state has an effort ” significant “ in the research, shoved structures ” too comfortably in their certainties “, promoted cooperation between actors “that ignored” to “achieving excellence” and, more generally, to create “an original method of modernization “ which, by the choice of projects and the use of independent juries, could be replicated ” in other areas (education, health) . “

Alongside these positive aspects ” both quantitative and qualitative “, the Committee of Experts notes that the” PIA “has been “drifts” in its implementation “who partially removed from the initial objectives” . Some critics had already been issued by the Court of Auditors in a report released late last year. Among them, the budgetary sleight tricks: “Several actions are not funding the exceptional capital expenditures, but merely serve to replace credits deleted elsewhere in the state budget,” notes the report conducted by Philippe Maystadt, former President of the European investment Bank and former Belgian Finance Minister. Review substantiated by Louis Schweitzer, for which 15% to 20% of the sums involved are the “budget alternative.”

The Committee of Experts also regrets that leverage through private funding is “not always perceptible” , that some actions such as transport are a particularly innovative or that the digital sector was particularly buoyant while the private sector could finance it himself. “PIA The principles have sometimes been left to meet local demands, political or union” , also pointing the experts. This was particularly true in the allocation of aid to reindustrialization.

As many pitfalls to avoid, while the head of state has already promised new envelope of € 10 billion for réabonder the future investment program. Citing the risk of “ dusting” , the report calls for “do not disperse” new funds into new shares in the short term, “ refuse now all budget alternative action “ or ” not to pursue actions that duplicate “ with other funding, as is the case, for example, in the very broadband

Frédéric Schaeffer

.

LikeTweet

No comments:

Post a Comment