Le Parisien: a year of protests by “yellow jackets” cost France € 17 billion

Since the beginning of the protests of the “yellow jackets” in November last year Emmanuel macron conducts a number of measures to maintain the purchasing power of the French, according to Le Parisien. It has allocated a significant portion of the national budget that goes to raising the minimum wage, tax cuts and the abolition of the indexation for low-income pensioners.

Le Parisien: год протестов «жёлтых жилетов» обошёлся властям Франции в € 17 млрд

Global Look rgest President in 2017, Emmanuel macron has made it a priority goal to reduce the deficit to ensure the creditworthiness of the country at the European level, however, the performances of “yellow jackets” forced him to spend €17 billion on maintaining the purchasing power of the French, according to Le Parisien. The President called the rule the EU about what is the maximum government deficit should not exceed 3%, “the question of another century.”

As says the publication, in the midst of social crisis macron, trying to pacify the discontent, and promised to fill the wallets of French money and for this unlock €10 million “emergency economic and social measures”, the introduction of which voted for the government on 24 December 2018. First of all, he promised to raise the salaries of those who receive the minimum wage: it increases premiums and the minimum wage. In the end, thanks to a €3 billion budget, about 1.65 million people rose to €106 per month. The growth of Universal social insurance (CSG ) from 6.6% to 8.3% has caused dissatisfaction among the elderly people who also came out to protest. After allegations of discrimination against the older generation macron backed down: now, this reform will not affect poor seniors and in the spring of 5 million of them to pay compensation, which was allocated €1.3 million But first and foremost, macron has revived the famous formula Sarkozy’s “work more to earn more” and hurried to reform, which was in the project: now charge for extra working hours up to €5 thousand are discontinued and are not taxed. These changes will affect 6.8 million workers, a third of whom work in the private sector. On average, the reform of people with a salary of €1,500 after deduction of taxes, which does extra work 11 hours a month, will get another €50 (or €600 per year). It will spend €3 billion from the state budget. In addition, many companies have also decided to help their employees, 4.8 million people received from their superiors an additional premium, on average, €400. This incentive turned 400 thousand companies that are going to repeat it this year. Thanks to the policy of consumer subsidies, the article notes, the economy of France shows an increase of 1.3% in 2019 against the backdrop of severe crisis because of the uncertainty of brexia, the risk of recession in Germany and a trade war with China and the United States. On the big debate in April, the government announced that it expects a sharp deterioration of the situation with taxes in France, and continued to reallocate funds. In addition to the elimination of property tax for 80% of the French €5 billion went to income tax from 1 January that will help upper middle class. Finally, the state returned to the measure, which added fuel to the fire: the abolition of the indexation for pensioners. With the new year, writes Le Parisien, small pensions will increase at the rate of inflation.

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