The head of state did not dwell on the details of the major economic recovery plan expected earlier in July. But by announcing the passage of the Ile-de-France into the green zone as of this Monday, Emmanuel Macron has raised a sigh of relief among professionals in the catering and tourism of this region currently in the orange zone. "We will be able to fully resume work and reopen cafes and restaurants in Île-de-France," he said. Since June 2, they could only open their terraces, where their counterparts in the green zones have been able to welcome customers in the dining room for more than ten days (subject to compliance with the distancing and health instructions). What to slow down the recovery of this sector which weighs for 7% of French GDP.
In recent weeks, building on encouraging health developments, their voices, like those of all the small and medium-sized enterprises grouped within the CPME, have been rising to demand a faster return to normal.
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They seem to have been heard, after weeks "where health has been placed before the economy" . This new health system and the total deconfinement of the Île-de-France, “ will make it possible to accelerate the recovery (…). It is necessary to get the economy going again, ” insisted the head of state. With in particular a call for a "productive pact" and relocations.
In this backdrop where the economy was put in an artificial coma for almost two months, the president also insisted: the State had been there. And this “at all costs” , he recalled. From the implementation of partial unemployment measures to tax exemptions through the solidarity fund (for very small businesses, the self-employed or the liberal professions) and sectoral recovery plans that have been tackled in recent weeks, the bill for the crisis is staggering. Precisely 136 billion euros to save the French economy according to the latest score made after the third amending finance bill (PLFR 3) for 2020, presented this week in the Council of Ministers.
No tax increase
While the government is now planning an 11% recession this year (compared to 8% a few weeks ago), the executive has just put 26 billion euros on the table to complete the emergency plan planned for support and revive the most vulnerable sectors. From tourism (€ 18 billion) to the automobile (€ 8 billion), including the aeronautics sector (€ 15 billion), many sectors affected have received extensive support. “These expenses never seen were justified (…). In how many countries has this been done? ” , he insisted, calling for reflection on a "productive pact".
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Despite this never seen bill, the president finally claimed to exclude raising taxes to finance expenses related to the crisis. With dreaded waves of bankruptcies in the coming months and the loss of 800,000 jobs anticipated by Bercy, the head of state also recalled that the bottom of the wave may not have passed yet. But he called for "doing everything to avoid layoffs as much as possible" .
