The health crisis continues, but the question of repaying the debt it has generated is already being raised. To do this, the Minister of the Economy and Finance, Bruno Le Maire, relies on businesses.
The repayment of the Covid debt by companies
The “ whatever the cost »Coupled with the health crisis has generated a significant public debt that will have to be repaid. The Minister of the Economy proposed, Monday, March 22, 2021, solutions to the deputies. In particular, it offers rely on companies to accelerate the repayment of the Covid debt.
Thus, during the debate on the debt taking place in the National Assembly, Bruno Le Maire proposed a solution: ” If tomorrow (…) companies return to growth, have additional growth, and therefore corporate tax revenues increase, would it not be efficient, Wouldn’t it be fair to devote part of the increase in this corporate tax (…) To the repayment of the Covid debt? “.
For the minister, this solution is the fairest since companies were the main beneficiaries of the aid that led to the formation of the Covid debt. “ We have enabled businesses to weather this crisis. (…) Companies will give back what they have succeeded in obtaining thanks to the protection of the State ”, said Bruno Le Maire.
No Covid debt cancellation in anticipation
The health crisis has had a more than harmful effect on public debt. The latter represents in 2020, 120% of the GDP, an increase of 215 billion euros compared to the previous year. A considerable increase, of which 75 billion are due to social organizations and will be reimbursed thanks to the Social Debt Redemption Fund (Cades) and an extension of certain withdrawals such as the CRDS.
In front of the deputies, the Minister of the Economy once again refused to consider a tax hike to curb the debt. He also reiterated his refusal to cancel all or part of this same debt, considering that it was a decision ” useless “And” dangerous “.