Antoine Armand: reduce the increase in contributions to support employment
The Minister of Economy and Finance, Antoine Armand, proposes to "limit the increase in employer contributions on low wages", planned as part of the 2025 budget, to respond to the concerns of companies regarding the possible consequences of this measure on employment. In order to compensate for this gesture, he mentions the need for "new efforts" that could take several forms, including an increase in working hours. He even considers abandoning a public holiday to make savings, although this is only one option among others.
Protecting achievements while adjusting priorities
In the current budget, Armand insists that the "Dutreil Pact", facilitating the transfer of businesses, and the research tax credit, which stimulates innovation, will remain intact. He is keen to preserve what are, according to him, essential pillars for the competitiveness of French businesses.
Faced with the pressure imposed on car manufacturers by the CAFE regulation, which provides for sanctions from 2025 for companies that do not sell enough electric vehicles, the minister says he is in favor of postponing this constraint for those "firmly committed to electrification". This flexibility aims to support manufacturers in their transition, without penalizing them immediately.
Armand also plans to meet his German counterparts to discuss the CSRD directive, which imposes extra-financial reporting obligations on companies. While supporting the transparency objective, he criticizes the growing number of mandatory indicators and the number of companies concerned, which he considers excessive.
In his mission to reposition the State as a strategic shareholder, Armand announces the acquisition of 80% of Alcatel Submarine Networks, a leader in the manufacture and installation of submarine cables, which he describes as "key strategic assets". This operation aims to strengthen France's control over infrastructures vital to its digital security.
A deficit under close surveillance
Faced with the unexpected drift of the public deficit this year, which led to the creation of a parliamentary commission of inquiry, the minister announced the establishment of a scientific committee to evaluate Bercy's economic models. He showed himself determined to achieve a public deficit of 5% of GDP in 2025, not ruling out additional measures to reduce spending "during the year if necessary".
With these announcements, Antoine Armand shows his desire to combine budgetary rigour and support for businesses, while calling for flexibility and a strategic approach to public action.
