Coronavirus : the assembly adopted the third budget crisis - The Point

France continues to implement its response to the economic crisis caused by the epidemic of sars coronavirus. The national Assembly has taken a new step Thursda

Coronavirus : the assembly adopted the third budget crisis - The Point

France continues to implement its response to the economic crisis caused by the epidemic of sars coronavirus. The national Assembly has taken a new step Thursday, voting to a third budget emergency. A debate was held on the counterparties ecological public aid granted to undertakings. In this third draft of the amendment to the finance act, 45 billion euros should be allocated for the tourism, automotive and aerospace.

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Adopted on first reading with the votes of the majority and those of LR, it must now be considered by the Senate. In total, the government claims since the beginning of the crisis the support of the " 460 billion euros ", by integrating the loans or the simple guarantees of the State. It is a " huge safety net, representing more than 20 % of our national wealth ", argued the rapporteur of the budget Laurent Saint-Martin (LREM).

Up to 800 000 job cuts

Looked at from the June 29 by deputies - with an interruption due to a new government - draft legislation to this table on an historic recession of 11 % of gross domestic product (GDP) in 2020, a deficit that is widening (11.5 per cent at the end of the discussions) and a public debt that swells 120,9 % of GDP. It provides € 18 billion for tourism, $ 15 billion for the aircraft and displays 8 billion for the car plan. It confirms also an aid of € 4.5 billion to local authorities, at a time when their revenue base with the crisis.

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during The debate, the Economy minister Bruno Le Maire has described as a "ring-fencing" of the debt " Covid ", a treatment that could allow to spread out in time, its depreciation, " for example until 2042 ". He also repeated expect "800 000 job losses at a minimum" by the end of the year.

Actions tax

Several actions tax are added during the discussions, to caregivers, members of the military or to support the press. But a large number of requests were referred to the recovery plan the overall expected at the start of the year. The final day of discussions has been marked by a debate on the counterparties ecological state aid.

The Assembly passed a measure LREM demanding environmental commitments "on the strength" of large enterprises, with the annual publication of a "report" on the reduction of their greenhouse gas emissions and a fine of 375 000 euros in case of breach of these publication obligations. "A decoy" and the simple " greenwashing ", have denounced the left and the environmental NGOS.

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The mps have also adapted the device of partial unemployment and prolonged the orders of a social nature for the French Guiana and Mayotte, where the health emergency is extended until the end of October, because of a health situation " alarming ". The Assembly has furthermore adopted an amendment to the government simplifying the engagement device is in supported employment for people with disabilities.

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Updated Date: 09 July 2020, 15:33

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