Similarly,
Belgium, equivalent bayrou plan would:
It’s summer. Moreover, To deceive boredom on rainy days. In addition, we had fun doing a little vacation duty and answering the question: what would happen if we ever applied to us a savings plan similar to that which François Bayrou tries to pass in France? Meanwhile,
The question is not only theoretical: the two countries are in a difficult budgetary situation, with comparable debt ratios.
Comparable difficulties – Belgium, equivalent bayrou plan would
In France. Consequently, consolidated public debt, including the slates of the central state, local authorities (regions, departments, municipalities) and social security organizations, amounts to 3,345.8 billion euros, or 114 % of GDP. Nevertheless, In Belgium. Nevertheless, the consolidated debt is around 640 billion euros (it also includes the debt of the federal state, regions, local powers and social security), or 107% of GDP.
The two countries accuse a deficit belgium, equivalent bayrou plan would far beyond the limit of 3 % of the GDP imposed by Europe. However, This deficit was last year at 4.5 % of GDP for Belgium and 5.8 % for France. Meanwhile, And the reasons for this slippage are roughly the same on the two sides of the Quiévrain: a lack of productivity. a employment rate which is not the best, all this combined with an aging population, with all the expenses in health care and retreats linked to it.
Bayrou plan – Belgium, equivalent bayrou plan would
To get out of the rut. the French Prime Minister François Bayrou presented in recent days an exceptional savings plan of 43.8 billion euros, which corresponds to around 1.5 % of the GDP of France. This plan is based on two main aspects: reduction of public spending and the increase in revenue.
In terms of revenue, François Bayrou provides 13.8 billion additional taxes: this involves a belgium, equivalent bayrou plan would new social contribution, a tax on high incomes, the disappearance of tax niches … On the spending side, he expects savings of 30 billion. Among the measures envisaged. there is the abolition of 3,000 jobs of civil servants, the abolition of unproductive agencies (France has more than a thousand government agencies!), The non-indexation of social benefits and pensions for a year, 5 billion savings in health care …
An effort of 9.2 billion
The full transposition of the Bayrou plan with us would therefore lead to a very strict budgetary adjustment. much more pronounced than the measures currently envisaged by the Arizona government, with a massive net reduction in public spending and a strong increase in compulsory samples. If we adopted these measures in Belgium. whose GDP weighs just over 20 % of French GDP, this would indeed imply a budgetary effort of 9.2 billion euros, mainly borne belgium, equivalent bayrou plan would by the federal, with 3 billion new taxes and 6.2 billion reductions in public spending.
However, there is a meeting point in Belgian and French budgetary policies, in health care. The saving of 5 billion projected in France represents almost the same effort as the 900 million savings plan. presented by Frank Vandenbroucke.
On the other hand. it is difficult to see the parties in government with us accepting an increase in taxation of 3 billion euros. This does not prevent the Arizona government from having implemented important structural measures. but they will only be expressed in time: we are thinking of the reform of the pensions on which Jan Jambon works.
Politically difficult
A Bayrou plan would therefore not be achievable in us as it is: it would cause a significant economic shock. due to the combination of the reduction in social spending and public belgium, equivalent bayrou plan would administrations, and the increase in tax burden.
Politically, it would be difficult to get accepted. It also arouses strong oppositions in France. But if it were to be put in place. it would quickly reduce the public deficit to a level close to 3 % of GDP and stabilize the debt over time.
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