Budget: an additional 20 billion euros in the hands of the Assembly

The deputies seized this Tuesday of the fourth rectified budget project for 2020.

And four crisis budgets. The National Assembly seized Tuesday, November 10 of the fourth and last rectified project for 2020, with 20 billion in additional spending mainly in the direction of businesses and independents. A support that the oppositions would like to strengthen. Nearly 300 amendments are on the menu from the end of the afternoon and for the evening, on this new amending finance bill (PLFR 4) which is not a collective end of management as every year , but has a good taste of the crisis.

The reconfinement since the end of October, decided for at least one month, will plunge activity again, after a rebound in the third quarter. Conclusion: the government has revised upwards the impact of the coronavirus epidemic, with an expected recession of -11%, against a 10% decline in GDP in the previous forecast for September. The state debt is set to soar to 119.8% in 2020.

The 20 billion euros put on the table correspond, according to Bercy, to the cost of one month of confinement (15 billion) and to a temporary extension of certain devices after deconfinement. The total amount of spending related to the Covid-19 crisis should thus reach nearly 86 billion euros this year.

“Massive” support for the economic world

Against the backdrop of the grumbling of small businesses forced to close, the Minister of the Economy Bruno Le Maire hammers it: this new emergency text “has as its main framework a massive support that we bring to the economic world, and particularly to commerce and very small businesses».

, in addition to the 9 billion already planned. Its access has been significantly extended, to sectors such as car rental companies or florists, and the amounts allocated have been increased, from 1,500 to 10,000 euros in some cases. The partial activity mechanism is endowed with an additional 3.2 billion euros, and 3 billion social contribution exemptions are programmed.

The right, which voted for the previous PLFR, denounces injustices in closed activities and is worried about loans granted by the State which cannot be repaid. The LRs are also calling for a fund for rents, rather than the complex scheme of registered tax credit for landlords waiving rents.

Tax platforms

For culture and sport, envelopes of some 100 million euros are budgeted to compensate for losses in revenue and ticketing.

As promised for several weeks in the direction of the most modest households, exceptional bonuses are planned for beneficiaries of the RSA, unemployed people at the end of their rights and those under 25, for a total of 1.1 billion euros. The government is targeting 4.73 million households: 4 million for assistance to the most precarious and 730,000 for assistance to young people, scholarship holders or young people under the age of twenty-five beneficiaries of personalized housing assistance (APL).

Already at odds with several of the crisis budgets, the left has strong reservations. This billion “will be far from breaking the wave of poverty that is sweeping the country, especially among young people», According to the Insubordinate Eric Coquerel. The Communists want to tax the GAFA (Google, Apple, Facebook, Amazon) which, according to them, “will benefit most from this crisis“. Socialists, like the ex-LREM of the Écologie Démocratie Solidarité collective, will propose a “exceptional contribution»E-commerce platforms, favored over closed shops.

General rapporteur Laurent Saint-Martin (LREM) called for “avoid redoing the match of the finance bill from a tax point of view“. The government has an amendment to speed up the deployment of aid for the digitization of businesses. The Secretary of State for the Social and Solidarity Economy Olivia Grégoire has also worked in favor of a new emergency fund of 30 million euros for small associations, which will be put to the vote of the deputies.

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