He challenges anyone to “challenge the numbers”. Jean-Luc Mélenchon took advantage this Saturday of a program of his campaign to reveal the budgetary details of his program. “Never has it been done at this level of precision”, boasted in particular of the rebellious candidate, who provides for additional expenditure of 250 billion euros and new revenue of 267 billion:
It therefore proposes to invest an additional 250 billion euros per year, in addition to the 1,400 billion in state budget expenditure in 2019. Among these expenditures are 50 billion euros per year in the “ecological bifurcation” and public services, 75 billion in the creation of one million public jobs and the upgrading of civil servants, and 125 billion in aid, subsidies and redistribution of wealth.
1 euro = 1.18 euro
Mélenchon affirms that these expenses will feed a “virtuous circle” thanks to the “multiplier coefficient” that part of economic science attributes to the State: “one euro of the State produces 1.18 euro”, according to him. Thus, the investments would feed consumption, filling the “order books” of companies, resulting in the creation of 1.5 million private jobs, he argued.
Progress that would increase State revenue by 267 billion euros (in 2019, State revenue totaled 1,300 billion), in particular thanks to an increase in contributions collected by 35 billion and income tax revenue. income and VAT of 27 billion.
“Roosevelt did it, Mélenchon can do it”
Several members of the campaign team then came to detail various expenditure and revenue items. For example, the recruitment of 160,000 teachers and the construction of 300 vocational, maritime and agricultural high schools would cost 8.85 billion.
The creation of 14 income tax brackets, rather than the current five, would cost 10 billion euros by lowering taxes for 92% of taxpayers, and would yield 5 billion by increasing them for the rest of taxpayers. The abolition of the family quotient would bring in 11 billion, the restoration of the ISF nearly 12 billion, also calculated the Insoumis. “Roosevelt did it, Mélenchon can do it,” chanted deputy Éric Coquerel.
The economics of sociologists
In conclusion, Jean-Luc Mélenchon was pleased that “since the Covid-19 crisis (…) the economic discussion is much more relaxed”. But the Insoumis still assured that their program would reduce the public deficit by 2.6 points over the five-year term.
In response to questions from economic journalists regarding certain expenses, he warned that he would “not govern with econometrics, but with sociologists and people who care regarding society”.
