Reduced taxes within two years … “If possible.” Economics Minister Bruno Le Maire said on Tuesday that the tax cut promised in May by the President of the Republic of the Republic of at least two billion euros will be implemented “if possible from the 2025 budget”.
“All tax cuts promised by candidate Emmanuel Macron in 2017 have been kept for the previous five-year term. All tax cuts promised by President Emmanuel Macron in 2022 will also take place in the beginning five-year period, ”Bercy, the tenant, assured in an interview with Le Figaro, while Emmanuel Macron promised these cuts by 2027.
“Company Value Added Contribution (CVAE) will decrease by 1 billion euros from next year and will be completely phased out by 2027 at the latest. The president has also promised at least 2 billion euros in tax breaks for households. We will do this as soon as possible if it is possible from the 2025 budget,” he explained.
Debt reduction in the future
After the abolition of the housing tax and the reduction of income tax, Emmanuel Macron promised in May last year additional tax cuts for the “middle class” with “an income of 1,500 to 2,500 euros.”
Bruno Le Maire also confirmed that the government would introduce the Public Finance Programming (LPFP) law at an extraordinary session, allowing the use of 49.3 “because LPFP is a major problem for the country.”
This law “should allow us to return to the public debt level of 108% in 2027 against more than 112% today and return below 3% of the public deficit,” the minister added.
Fragile economic environment
Welcoming France’s economic growth, Bruno Le Maire said he “understands the fragility of our economic environment”, citing “the level of interest rates that will remain high for a long time” and “the economic situation in Germany, which is our priority”. first economic partner.
In the midst of food inflation and while the Restos du Cœur earlier in the week called for solidarity due to financial difficulties, Bruno Le Maire announced that the government would maintain a 75% tax deduction in 2024 for donations to food banks. up to 1000 euros.
This ceiling was raised in 2023 from €500 to €1,000. “If parliamentarians want to enshrine this in the law on a permanent basis, the prime minister and I are open to this issue,” he added.
Source: Le Parisien
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