The beginning of recovery is beginning. "The French economy is slowly recovering," said Minister of Economy Bruno Le Maire on Thursday, who ruled out the re-establishment of the ISF and any tax hike, four days after the end of confinement.
"The restart is gradual ... I prefer a restart step by step than skip the steps and risk the interruption," said the minister on the set of BFMTV.
It is "a violent, lasting crisis, a matter of years, not months," he said, after a confinement that caused the economy to lose a third of its activity during two months.
Lower VAT, "not a good solution"
The Minister stressed the importance of mobilizing savings for the French, who have reduced their consumption. "This money is not made to be taxed by the State, I want us to encourage them to invest in the French economy so that it starts again," he stressed.
He added, however, that he did not think "that lowering the VAT is the right measure for the sectors" affected by the crisis, nor "the right solution for the French economy". Often cited as a way to boost consumption, it would also cost “tens of billions of euros” to public finances.
Bruno Le Maire also closed the door to a reinstatement of the wealth tax (ISF), removed in 2018 by the government, while ensuring that the latter would not reverse the tax cuts decided since 2017.
The restoration of the ISF, "pure demagoguery"
“It's very easy to restore the ISF. If I wanted to be popular, I would go and announce tomorrow […] we will reinstate a 'tax on the rich' and France will be better. But it's not true, it's a pure lie, it's pure demagoguery: we did it for years, it didn't work, it didn't enrich France, it didn't improve prosperity, "defended the minister.
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In addition, "I do not think that going back on the tax cuts that we have made would be a good choice, since on the contrary it worked. The fiscal policy that we have pursued has made the country more attractive, has brought in investments, has given growth and prosperity, ”he said.
"There is a fight more difficult to lead", it is "the taxation of digital giants", reaffirmed Bruno Le Maire, who last week called on the European Union to reopen this dossier while the work undertaken in the framework of the OECD "mark the country".
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