France has no “wiggle room” to lower taxes without compensation. This is the message that the first president of the Court of Accounts, Pierre Moscovici, transmitted this Monday before the Association of Economic and Financial Journalists (Ajef). A statement that comes a few days after the presentation by the Government of its budget project for 2023.
“If we want to lower taxes, I am not against it,” argued Pierre Moscovici on Monday. But “we must, in due proportion, increase others or limit public spending,” he immediately added.
“Fiscal stability is desirable”
In this context, with the rise in interest rates on the country’s debt, “we have no room for maneuver for a severe tax cut”, Pierre Moscovici insisted, before continuing: “fiscal stability is desirable”.
The Government has already announced that it intends to include in the 2023 budget project the abolition of the Contribution on the Added Value of Companies (CVAE), a tax on production that annually generates between 7 and 8,000 million tax revenues. During the presidential campaign, the candidate Emmanuel Macron had also mentioned a reduction in the inheritance tax, whose calendar is still unknown.
Source: BFM TV
