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Video length: 2 minutes.
Since the start of the Covid-19 crisis, the French have saved more than 142 billion euros. These savings would boost growth if spent. We are starting to do this, and some are suggesting a lower VAT.
Since March 2020, the French have saved 142 billion euros. But behind this amazing record, are they hiding more cicadas or French ants? “I am more an ant, because I do not know what awaits us next, I am very afraid of the past year …”A passerby said. “I’m totally cicada, I like to spend, I like to go out”Another said. More spending, and therefore more growth: more than 5%, according to the government.
“Family income is maintained, in addition to savings earmarked to allow families to dynamically resume consumption, this will be the core of recovery”Matthew Plane, economist. And to encourage consumers to consume faster, right-wing representatives propose lowering the value-added tax to 5.5%, thereby lowering prices in the sectors most affected, such as hotels and restaurants. An idea shared by some on the left, but rejected by the government.
Matthew Blaine, economist at OFCE
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