SNCF: the state will put their hands in the pocket – Le Point

Financial extensions SNCF announced Wednesday by the government compensate some social concessions to the unions, but the executive has not yet decided on a possible takeover by the State of part of the debt abyss the railway company. A gesture for freight, another for Intercity trains, a third for maintenance of the rail network: the Prime Minister, Manuel Valls, listed the promises Wednesday in the National Assembly

more. fat envelope will be allocated to the “regeneration” of the network, whose budget will increase from 2.5 to 2.6 billion euros in 2017 and then gradually to 3 billion in 2020. This amount had more than doubled since 2010 “the effort will continue,” said Manuel Valls, even if the objective remains below the desired 3.5 billion by SNCF and 4 billion claimed by the Unsa union.

Prime Minister s is also committed to “maintain the current economic balance” of Intercity, the deficit is expected to reach 400 million euros this year. According Matignon, this should translate into a state compensation for holding some night lines. The government nevertheless decided in February to withdraw 6 of 8 existing connections, leaving choice as privatization or disappearance.

Finally, Manuel Valls spoke of “a subsidy (…) of 90 million this year and for years to come in order to reduce the cost of tolls for freight operators, “SNCF head. This is actually perpetuate existing aid. “She should have fallen, it is maintained,” says Matignon.

When contacted, SNCF declined to respond to these ads, which offset the wages granted to the unions on the social aspect.

Report debt in August

the railwaymen have indeed obtained a retaining their working conditions after the direct intervention of the government in negotiations to stop the strike. Real blow to management, this interference has negated the expected savings by the President of the SNCF, Guillaume Pepy, fueling resignation rumors.

The group management could not therefore rely on financial counterparties state for honor, especially a partial reversal of € 50 billion of railway debt. But the prime minister did not want to anticipate the arbitration on this sensitive point, referring to a report to be submitted to Parliament by August. “This report will examine the various hypotheses of recovery of all or part of that debt by the State and the creation of a sinking fund, as well as their effects,” he said, assuring parliamentarians that they would “make a decision”.

the Secretary of State for Transport, Alain Vidal, has reflected his preference, saluting once “a very important announcement on the conditions under which a portion of the debt will be resumed. ” “It seems inevitable,” confirmed his predecessor Frédéric Cuvillier, for whom “it is to breathe the rail system, to save the”

In opposition, the chairman of the Finance Committee Assembly, Gilles Carrez, denounced “a headlong rush by debt” which “is not a responsible way to solve problems.” Such a scenario would not be unprecedented, since the INSEE has forced the state to take over 8 billion euros of railway debt in 2007 and another 10 billion in 2010.