“When is a survival kit for the economy of France?”

Free tribune The French economy must engage on the path of structural reforms and modernity, pleads our columnist Marc Touati, economist, economic advisor Etoro, president of the Cabinet Acdefi. Otherwise, she is likely to pay the price. And the bill could be salty .. to be very frank with you: I would never have imagined living this in my life! Indeed, a few days apart, the French government has, on the one hand, decided to send a “survival kit” to all citizens for the modest sum of at least 6 million euros and by post (at the digital time, hello the carbon footprint!) And, on the other hand, announced the creation of a fund to finance military expenses to drain the savings of the French. But beware: without minimum return, without guaranteed capital, without tax advantage, without precision on the investments chosen and all blocked over at least five years. Obviously, it would have been difficult to make more “repellent”! And the worst part is that it is not a joke! On the other hand, the reallocation of part of the huge public expenditure to finance the increase in defense spending has still not been mentioned. When we know that operating expenses reached 537.2 billion euros in the third quarter of 2024, or 32.3% of all public spending, there is something to be disappointed. And this, especially since, since the beginning of 2021, they have exploded by 92 billion euros, an increase of almost 21%, while, over the same period, social spending increased by 10.1%! To read also: Growth: the French economy weighed down by the political crisis and the “Olympic Games” The French economy needs shock therapy © Acdefimais, rather than sinking into sadness in the face of such effects, and even if we will never cease to say all economic truths, it seems more appropriate to define a “kit of survival”, that is to say tracks. The “good plan” would thus be to set up a “benevolent shock therapy for the French economy” around the following eight pillars: 1. Lower the fiscal pressure for all, companies and households, in a clear and massive way, in particular by reducing the CSG, which will improve the purchasing power of all French people, while removing corporate taxes on production and reducing corporate tax. At the same time, this will create a trusted boom, which can make the drop in public spending more easily accept, which constitutes our second flagship measure. >> Buy and sell your actions at the right time thanks to Momentum, the premium capital investment letter based on technical, economic and financial analysis. And thanks to our partnership with the Technical Analysis Show of March 28, 2025, take advantage of -30% now on the price of an annual subscription! Reducing taxes and optimizing public spending would benefit the French economy2. Optimize public expenditure, by reducing operating expenses. Because beware, lowering investment and/or health expenses would be counterproductive. On the contrary, it is necessary to attack operating expenses, for example by removing part of the 700 ODAC (various organizations of central administration), the annual cost of which exceeds 150 billion euros, or even by removing almost all of the 315 consultative bodies, also called “theo committee, or even by reducing the duplicates and triplons of the famous” administrative mille The 8 billion euros per year. In other words, reduce the lifestyle of the state without deteriorating the public service but by improving and optimizing the latter. Public expense will then become more fruitful in the creation of wealth and jobs. 3. Besides the reduction in taxes for all and the optimization of public spending, it will also be essential to combat tax and social fraud, which, according to the lowest estimates, amount to 30 and 20 billion euros each year. Here is the costing that I therefore offer for these first three measures: – 25 billion euros on the CSG and – 25 billion euros on the production tax. This tax drop of 50 billion euros will also eliminate many tax niches, while arouse a growth of growth, thus bringing around 30 billion euros in state funds. In other words, the drop in taxes will only “cost” 20 billion euros (50-30). At the same time, public spending, mainly operating, will have to be reduced by 50 billion euros, which will reduce the public deficit more. As for the fight against tax and social fraud, it should make it possible to recover 50 billion euros. In total, by lowering taxes of 50 billion euros, the French public deficit can still be reduced by 80 billion euros (- 20 + 50 + 30 + 20 = 80). As saying saying: it’s not rocket science! The French economy needs a modernization of the labor market4. At the same time, it will also be essential to reduce the cost of labor, not obviously by lowering wages, but by reducing the charges that weigh on them by at least 10 %. This will then increase net wages and therefore improve household purchasing power. What also relaunch the confidence of the French in national economic policy. To achieve this, it will be possible to transfer part of the loads that weigh on wages to VAT, but without increasing the rate of the latter. Because otherwise it would come to turn on purchasing power and lessen confidence. 5. To perfect these three essential developments, France will also have to modernize its labor market. This will include the following measures in particular: 1. drastically simplify the labor code. 2. Reduce constraints to hiring and dismissal. 3. Allow each employee to choose his type of unemployment insurance and the contributions weighing on the salary accordingly. 4. Create a single employment contract. Read also: GDP: All about gross domestic product The French economy must set sail for innovation6. Innovate massively and develop adequate training. The revolutions of new energy, food, digital and artificial intelligence technologies have already started, and France is, once again, very late in all these areas. 7. In this modernized France, it will also be necessary to promote the financing of companies and innovation, in particular by creating new long -term investment funds, which, at the same time, will be able to finance part of the pensions, the latter being increasingly threatened, for lack of reform worthy of the name. The French economy must engage on the path of structural reforms8. To achieve this rescue, it will also be essential to develop the economic culture of the French, and in particular young people, who, in too many cases, are, unfortunately, more tempted by the return of communism than by personal and collective success. What sadness! These measures are not ultra-liberal or destructive, but simply common sense. And if the French do not accept them, then they will have to be resolved at an unemployment rate greater than 8 % for decades, an unemployment rate for under twenty-five years which will lastingly exceed 20 % and will condemn too many young people to precariousness and ultimately to societal instability. Is this the heritage that our generation wants to leave? Especially not. So, please, ladies and gentlemen, the leaders of the country, stop closing the breaches, doing marketing and maintaining fear. Finally, have the courage to engage France on the path of structural reforms and economic modernity. Hope brings to life … Marc Touati, economist, economic advisor Etoro, president of the Acdefi firm you can also find his video chronicles on his YouTube channel, which has more than 221,500 subscribers, the last of which: “France and Europe collapse: how to get out of the crisis?” Receive our latest news every day, selecting the main news of the day. (tagstranslate) growth

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