Elisabeth Borne again used 49.3 to approve the “expenses” section and the entire finance bill for 2024 in the first reading to the National Assembly. In this text, an amendment offers the possibility of using the resources of the Livret A and the Sustainable Development Brochure to finance companies in the French defense industry.
This amendment, resulting from a report by the Horizontes deputy for Charente-Maritime Christophe Plassard, was supported by the president of the Commission for National Defense and the Armed Forces, Thomas Gassilloud, as well as the deputy Jean-Louis Thiériot. After a first attempt by parliamentarians during the examination of the Military Programming Law, this proposal this time received the support of the government and was therefore maintained.
Mobilize the moral forces of the Nation
Earlier in the year, Christophe Plassard’s report suggested that the French participate in the war effort by “mobilizing French savings for the benefit of the defense industry.”
The reluctance of the banks
Without saying it explicitly, this amendment highlights the reluctance of banks to finance arms companies. In his report, Christophe Plassard points out that, like financial institutions, they are “reluctant to finance the defense industry”, sometimes described as a “dirty” industry.
This manager specified that although large groups can sometimes finance themselves, SMEs face difficulties in “obtaining guarantees or endorsements,” particularly for exports. In these cases, French companies must “find solutions with local banks.”
Source: BFM TV
