The Senate examines from Thursday the third emergency budget to deal with the coronavirus crisis. Described as a “ missed opportunity ” by the majority right at the Luxembourg Palace, this third amending finance bill provides in particular about 45 billion euros more to rescue tourism, the automobile or aeronautics. It was adopted last week at first reading by the National Assembly, with the votes of the majority and the LR right.
Read also: Production taxes: the recovery plan provides for 20 billion euros of reduction
In the Senate, debates will be launched in the hemicycle Thursday afternoon, a few hours after the Prime Minister's general policy speech. The review of the articles will only start on Friday and will continue over the weekend. This bill expects a historic recession of 11% of gross domestic product (GDP) in 2020, a deficit that is still widening to 11.5% and a public debt that swells to 120.9% of GDP.
The senators voted without flinching - with the exception of the CRCE group with a communist majority - the first two budgets rectified in the light of the unprecedented crisis which put a brutal halt to the economy in mid-March. This time, they intend to be more demanding, even if the senatorial majority will vote " without problem " sectoral support measures. " This text is a missed opportunity ," laments the leader of the senators LR Bruno Retailleau, for whom " it should have been the recovery plan " promised only after the summer by the executive. In " the race against the clock that is underway " in Europe, France will record " a delay in terms of recovery and rebound, " he feared.
Left and right remain critical
On the left, Claude Raynal, leader of the PS senators on the text, deplores " additions of odds and ends ", estimating that the 3rd rectified budget " represents only a small hundred billion actually ". It provides 18 billion euros for tourism, 15 billion for aeronautics or displays 8 billion for the automotive plan. It also confirms aid of 4.5 billion euros to communities, when their revenue melts with the crisis. Several fiscal gestures were added during discussions at the Assembly, intended for carers, soldiers or to support the press.
For Mr. Raynal, with this new text, the government was no longer really in a hurry and had " time to reflect ", but there are still " still a lot of holes to fill ". The senators PS count in particular " to emphasize " on the culture, judging that the sector " cannot wait any more ". Once again, the left will also propose the reinstatement of the solidarity tax on wealth, at least temporarily, an attempt doomed to failure in a hemicycle mainly of the right. President Emmanuel Macron himself excluded him on Tuesday, saying that he " would not settle anything ".
However, Bruno Retailleau points to a “ shy ” text , which does not “ go far enough, not fast enough, not strong enough ”. For its part, it defines four priorities: social emergency measures to avoid massive unemployment at the start of the school year, economic measures with a “ supply shock ” and a “ demand shock ”, and finally measures in favor of 'ecology. Concretely, LR senators propose in particular a reduction in " production taxes ", mechanisms for "over amortization " for certain investments, or even, for individuals, to revert to the energy transition tax credit without resource ceiling and in extending to landlord and social landlords.
Emmanuel Macron announced on July 14 “ at least 100 billion euros ” more devoted to “ industrial, ecological, local, cultural and educational revival ”, “ from the start of the school year ”. This new envelope will add to the 460 billion already committed in sectoral measures and support to the economy since the beginning of the epidemic, by integrating loans or simple guarantees of the State.