Budget 2024: Minister Announces Savings and Debt Reduction Plans in New Government Proposal

2023-07-11 21:31:00

In the columns of the “Figaro”, the Minister in charge of Public Accounts announces that the budget which will be presented to Parliament in the coming months will include “savings” in certain sectors.

Lower taxes and reduced debt? This is Gabriel Attal’s project for le budget 2024which will be presented to the National Assembly and the Senate in the fall. In an interview with Le Figarothe Minister Delegate in charge of Public Accounts affirms that “debt reduction is a national emergency”.

“We assume to prefer a proactive, but progressive debt reduction, to austerity which would have harmful consequences on economic activity”, explains Gabriel Attal in the columns of the daily, hammering that this “ambitious commitment” will be “kept”.

“It would be lying to say that there will not be a global effort required of all French people to reduce the debt”, however concedes the minister.

A public debt which remains significant. It exceeded for the first time the symbolic threshold of 3000 billion euros in the first quarter, INSEE said at the end of June.

“Empowering companies and users”

Gabriel Attal intends to “systematically consider the impact” of each track of economy “on the middle class”. A category of the population that the minister defines as “those French people who feel too rich to be poor and too poor to be rich”.

Still, the government intends to “save money” in certain sectors, says Gabriel Attal, who mentions “the subsidized contracts that we will once more reduce considerably”. However, he refuses to “talk regarding austerity in a country that continues to spend more than it earns”.

“On the Social Security budget, I assume to say that we must take measures to stop the increase in the number of sick leaves”, advances in particular the minister, who intends “to make responsible (…) on the side businesses and users.

Finally, while Bruno Le Maire recently mentioned a possible break in tax cuts, Gabriel Attal assures “that in 2027, the French and businesses [en] will pay less than in 2022”.

“The subject simply lies in the pace of tax cuts and this pace will depend on the economic situation, our debt reduction trajectory and the needs of businesses and households”, specifies the Minister Delegate in charge of Public Accounts.

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