2025 Budget Tax Relief: Bruno Le Maire’s Promise and Updates

2023-09-05 21:07:00

In “Le Figaro”, the Minister of the Economy Bruno Le Maire indicates that tax relief will be made “as soon as possible, if possible from the 2025 budget”.

The Minister of the Economy Bruno Le Maire indicated on Tuesday that the tax cuts for households promised in May by the President of the Republic, of at least two billion euros, would be carried out “if possible from the budget 2025”.

This tax relief, “we will do it as soon as possible, if possible from the 2025 budget”, declared the tenant of Bercy in an interview with the Figarowhile Emmanuel Macron has promised these reductions by 2027.

After the abolition of the housing tax and a reduction in income tax, Emmanuel Macron promised last May additional tax cuts for “the middle classes” with “income between 1500 and 2500 euros”.

Possible 49.3

Bruno Le Maire also confirmed that the government would present the public finance programming law (LPFP) in an extraordinary session, which makes it possible to use 49.3, “because the LPFP represents a major challenge for the country”.

This law “should allow us to return to a level of public debt of 108% in 2027 against more than 112% today and to go back below 3% of public deficit”, added the minister.

While welcoming France’s growth, Bruno Le Maire said he was “lucid about the fragility of our economic environment”, citing “the level of interest rates, which will remain high for a long time” and “the economic situation of Germany, which is our first economic partner”.

In the midst of food inflation, and while the Restos du Coeur called at the start of the week for solidarity due to financial difficulties, Bruno Le Maire announced that the government would maintain in 2024 a tax deduction of 75% for donations to banks groceries up to 1000 euros.

This ceiling was raised in 2023 from 500 to 1000 euros. “If parliamentarians wish to enshrine it in law in a permanent way, the Prime Minister and I are open to this subject”, he added.

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