Submit-Covid European restoration plan: the place are the billions that France is lacking?

It was two years in the past, in July 2020: to deal with the financial shock of the Covid-19 pandemic, the European Union had adopted essentially the most formidable restoration plan in its historical past, because of an settlement unprecedented by the 27 Member States, which had agreed to pool their debt. At stake, simply over 800 billion euros in subsidies to be distributed between the Member States, together with 70 billion euros for Spain and Italy, the 2 principal beneficiaries. And 40.3 billion arrowed in the direction of France.

The general public finance programming regulation blocks France

Downside, at this stage, France has obtained slightly below 13 billion euros, or a 3rd of the overall promised. The remainder of the sum has nonetheless not arrived, whereas the European Fee’s schedule offered for a second cost of 11 billion euros final 12 months, then a 3rd, as much as 7 billion euros this 12 months. If the funds are blocked, it’s fairly just because the federal government has nonetheless not succeeded in having the general public finance programming regulation (LPFP) adopted by Parliament for the interval 2023-2027.

Regardless of the favorable vote of the Senate, the Nationwide Meeting had, final fall, rejected this textual content which particulars the budgetary trajectory of the nation till the top of the five-year time period. And specifically the chief’s plan to convey the general public deficit (4.7% at present) beneath the three% mark by 2027. “We weren’t in a position to profit from a second a part of the endowment as a result of we’ve got not succeeded in having a public finance programming regulation handed. Nevertheless, that is an important situation for acquiring the allocations for the restoration plan”, regrets the Renaissance deputy for Indre-et-Loire, Daniel Labaronne.

In direction of a brand new 49-3?

France’s incapability to undertake a LPFP throughout the required deadlines violates the European treaties. Because of this the funds meant for our nation are withheld by Brussels. For the chief, there’s urgency: the general public finance programming invoice should once more be submitted to the Meeting throughout a rare session on the finish of September. The chance to attempt to persuade a few of the opposition deputies, hopes Daniel Labaronne, who recollects how essential the difficulty is.

“If we don’t have a LPFP, we’ll lose practically 30 billion euros. I hope we’ll discover a majority within the Nationwide Meeting. And I’m hopeful that we will cross this regulation earlier than the top of the 12 months. And perhaps it will likely be vital to make use of the 49-3. I’m in favor of it, “he says.

One more 49-3 which might expose the federal government to a movement of censure. Final March, throughout the examination of the pension regulation, that of the Liot group had failed by 9 votes. The LPFP is the primary act of a high-risk return to high school. After this textual content, parliamentarians should contemplate the 2024 finances and the Social Safety finance invoice. Two texts that the Minister of the Financial system, Bruno Le Maire, will current on September 25.