2023-07-08 14:33:00
Becoming the first green economy in Europe by 2050… This is the roadmap rolled out this Saturday by Bruno Le Maire during the economic meetings in Aix-en-Provence. On the sidelines of a round table on the theme of sustainable growth, the Minister of the Economy reaffirmed his desire, and that of the government, to mobilize public and private financing for this purpose, in particular through savings. .
“The establishment of a green ISF is not a good option” said once again the boss of Bercy, who does not plan to increase the already high rate of compulsory levies in France. However, he mentioned the possibility of an international tax on CO2 emissions from maritime transport, already announced a few weeks ago by President Macron. Among the levers for financing the climate transition, considered essential “because not doing so would be very expensive”also features the establishment of a “capital markets union” and Europe.
The behavior of banks pointed out
Idea taken up on his own by Paschal Donohoe, Irish Minister of Public Expenditure and President of the Eurogroup. “We need to change the behavior of banks to use European savings to invest in the European economy” said the leader from across the Channel.
Bruno Le Maire, who hopes to raise the employment rate (currently 68%, as in 1970) in France, also reaffirmed the government’s desire to grant, from 2024, ecological bonuses to buyers of electric cars, only on models manufactured in France or in Europe. 70% of the bonuses currently distributed finance vehicles built outside Europe, according to the minister.
“It is preferable to produce electric batteries on French soil” he specifies, returning to his discourse on national sovereignty, by evoking the various measures put in place by the State to ensure the country’s supply of rare earths and critical materials. “Mining activities have been relaunched in France, we have taken an initiative with the German and Italian ministers to secure our supplies of lithium and nickel in particular and we are going to forge partnerships with Indonesia and Latin America”.
A lack of “green” projects to finance
Yes for Bruno Le Maire “you have to give yourself time to go fast” on the energy transition and support the transition from brown taxation to green taxation, which would, for example, call into question the exemptions of certain trades on diesel, Philippe Heim, Chairman of the Management Board of La Poste, affirmed that currently “we do not receive enough (green) projects to finance”. The government thus intends to make land available to accommodate new factories. The bill currently being debated in the Assembly on the green industry, could make it possible to accelerate, estimates Bruno Le Maire, who hopes for a large majority on this subject.
The track of inflation at 3%?
“You economists want to open this debate, why not? launched Bruno Le Maire about the proposal of Patrick Artus, and more broadly of the Circle of Economists, not to remain focused on an inflation rate of 2% wanted by the European Central Bank. “We must raise this rate by 2 to 3% because this will give the possibility of having lower interest rates and therefore reducing public debt” pleaded the economist. Just like Jean-Hervé Lorenzi, president of Les Rencontres, who in an interview with the Nice-Matin group a few weeks ago felt: “our central bankers must not get inflamed and we find ourselves in a similar situation to July 2008 when, with the rise in interest rates, we entered into a crisis. »
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