France 3 billion of additional public spending

 

The government has 13 November the draft supplementary budget season. Despite some new spending, the executive promised that the goal has not changed and keeps the public deficit should not exceed 4.1% of GDP in 2013.

The draft supplementary budget has three billion additional spending for the state. These new allocations to the most urgent budgets, such as employment, the contribution to the EU budget, external Defense operations and emergency accommodation. The government ensures that these funds will be offset by all as cancellation credits spread over all departments.

The government claims that it “does nothing to change deficit”

Another important element of the draft supplementary budget law: the issue of debt left by the collapse of the bank Credit Lyonnais. To pay it, the state will anticipate a year a loan of 4.5 billion euros in the financial markets. Again, the government ensures that the money stays in the same set of public debt and the transaction “does not change the deficit” . This did not convince the UDI deputy, Charles de Courson, who promises a great debate on the issue in Parliament on 3 December.

Probably more complex than it seems, the reform of life insurance should also be considered. The objective is to encourage the French to guide this huge nest egg to corporate finance.

France 3 billion of additional public spending