The major choices of a State budget which should make it possible to generate 50 billion in savings in 2025

François Bayrou a usé du 49.3 pour faire adopter le projet de budget de l'Etat 2025. MAXPPP – Pierrick DELOBELLE

The 2025 budget was drawn up on the basis of 30 billion in savings and 20 billion in revenue, to reduce the public deficit to 5.4% of gross domestic product by the end of the year.

What does this 2025 finance bill (PLF) contain, on which deputies and senators meeting in a joint committee (CMP) managed to reach an agreement on Friday ?

A joint text for a draft State budget which was therefore presented to the National Assembly on Monday, driven by an ambition which can be summed up in four figures: to reduce the public deficit to 5.4% of the gross domestic product by the end of this financial year, which would be possible thanks to a budgetary effort of around 50 billion euros, including 30 billion in savings and 20 billion in revenue. Let us recall that the deficit is currently at 6% of GDP.

“Exceptional contribution”

A budget that has many similarities with that drawn up by the Barnier government.

It provides, among other things, with regard to tax revenues, for an additional but temporary effort that will be required of the wealthiest French people (over €250,000 in income per year), or an “exceptional contribution” on the profits of large companies.

200% Deposit Bonus up to €3,000 180% First Deposit Bonus up to $20,000

Exceptional taxes, but temporary

Also included in the additional tax system are an increased penalty for the purchase of thermal cars, a tax on financial transactions that has also been increased, and another tax, also temporary, on the CMA-CGM shipowner. As for state medical aid, it will remain at the same level as in the 2024 financial year.

In terms of expenditure, the Ministries of Ecology, Agriculture, Research, Higher Education, and Culture are expected to be among the most impacted. More or less severely.

Development aid pays the biggest price

It is official development aid that will pay the biggest price, with a cut of a third of its budget, a decrease of almost 2 billion euros compared to 2024.

The Sports budget, which was once threatened with a new size, will escape this, as the Joint Committee did not accept the government's amendment which wanted to cut it by an additional 34 million euros. And the socialists obtained the maintenance of 4,000 teaching posts.

“Somewhat optimistic assumptions”

As for the Social Security financing bill, spending is expected to increase, as the Minister of Labor, Health, Solidarity and Families, Catherine Vautrin, confirmed on Saturday to Parisien : the emergency fund credits for nursing homes will triple.

And various measures initially planned were ultimately abandoned. In particular, the reduction in the reimbursement rate for medications and consultations.

Once these broad guidelines have been set out, what does this draft budget say? ? According to Benoit Mulkay, professor at the Faculty of Economics in Montpellier, “it is built on somewhat optimistic assumptions, with growth of 0.9%, while there is a consensus to envisage growth of around 0.6% or 0.7% in 2025.”

“160 billion euros of additional deficit”

And to recall that if the objective of a public deficit reduced to 5.4% of GDP were met, this would still represent “about 160 billion euros of additional deficit, that would further widen the current deficit which is around 3,000 billion euros” notes the Montpellier economist.

Who, to underline the importance of this debt, underlines that erasing these 160 billion euros of additional deficit would represent, over a year, “€2,500 less spending, or more taxes, for each French person. Not for each household, but for each person.”

I subscribe to read the rest