Bercy continues to question the advisability of making a fiscal gesture to encourage small donations between generations, from grandparents to their grandchildren.
The Minister of the Economy, Bruno Le Maire, sees it as a way to unlock part of the abundant savings set aside since the start of the first confinement, more than a year ago.
The problem is that the economic effectiveness of this measure is not proven.
And that it is politically perilous, being comparable to a measure "
for the rich".
Read also: Taxation: encourage small donations between generations, a tricky measure
A study published by INSEE is a good illustration of the questions that the executive is asking itself at the moment. On the one hand, wanting to facilitate financial transfers between generations corresponds to a reality. The study indicates that transmission by donation
"occurs late in the life cycle"
: in 2018, 65% of donors were at least 70 years old. Parents are at the origin of the donations received in 87% of cases and grandparents in 9%. The vast majority of generosity comes from retirees: for 85% of households that made a donation, the reference person was no longer active in 2018.
In detail, half of the donations received included financial good (money, life insurance, securities) and the other half real estate (housing, land).
Half of the donations received represent less than 30,000 euros, 31% between 30,000 euros and 100,000 euros and 19% 100,000 euros or more.
In total, 18% of households had already received a donation in their lifetime and 8% had made one.
High heritage
But the study also shows, and it is ultimately quite logical, that these donations are made by the most financially comfortable families. First of all, they have higher than average incomes - in 2018, 24% of donor households had a standard of living above 40,000 euros, compared to 9% of all households. Then,
"donor households generally have a high wealth
,
"
says INSEE. At the start of 2018, it stood at 613,000 euros on average, while that of all households is 239,900 euros. As this is partly due to the age of the people who give, which is higher than the average, INSEE has endeavored to look at the situation
"at a comparable age"
.And donors are
"on average still twice as endowed as the whole"
, notes the Institute. The beneficiaries of these donations also have a higher than average net wealth: 472,300 euros, twice as much as all households.
Finally, the document shows that it is already well-off households that benefit the most from donations: some 55% of those who have received one during their lifetime are among the 30% of households with the best net wealth.