For the Elysee he is an acceptable compromise

The Senate began yesterday, the review of the constitutional reform on the balance of public finances, which, among other constraints, imposed the monopoly of the tax provisions in the laws of finance. This rule, already applied by Matignon, aims to better protect the revenue of the State, being wrong over the last decade by creating many niches. In practice, however, in recent weeks, the majority has somewhat eased a doctrine which had led, in the budget, 2012, 11 billion euros in savings on tax and social spending, and the refusal of any amendment from increase the invoice.

The review of the Bill funding amendment of social security for 2012, last night at the National Assembly began, illustrates this development. The premium for dividends created by this text will be exempt of loads up to 1.200 euros, as the engagement and participation (only the CSG and the social package of 6 apply). "It is a social niche which will be a cost for public finances", agreed Yves Bur (UMP), rapporteur of the text. The loss of revenue is estimated at EUR 350 million cruise.

The Government points out that it is a binding device and not a gift: the companies will have to pay a premium when the dividend increase. In fact, Laurence Parisot (Medef) reiterated its criticism of yesterday. Members of Parliament, fearing that only a minority of employees key premium, has insisted to the Executive a gesture is made with respect to SMEs. They were successful. For businesses with fewer than 50 employees, it will be possible to propose devices engagement on one year only (instead of three years), with the exemptions to the key. For the Elysee, he is an "acceptable compromise". Measurement will nevertheless increase the loss of revenue.

The review of the reform of the ISF to the Assembly, last week, also allowed the elected representatives of the majority of small gestures for taxpayers and businesses. It was recorded that companies with 50 to 250 employees will continue to benefit from the tax credit on the incentive for the agreements entered into before January 1, 2011 (the advantage being reserved now for less than 50 employees). On Lai himself, strong reduction of the fee schedule, members doubled reduction for dependent child. And the Government has relaxed the conditions to make tax-deferred cash donations. On the other hand he dam to attempts to raise the ceiling of the Madelin (income tax) benefits for investment in a company.

On other issues, the Executive did raise the ceiling of the tax benefits for investments in social housing, in order to comply with a commitment relieving this sector at the time of plane of 10 on the niches. But, against the opinion of the Government, the deputies also voted the creation of "fip DOM": this niche would provide overseas taxpayers a reduction of income tax of 50 on subscription of shares of proximity Investment Fund targeted to companies that operate overseas.

This relative flexibility on revenues in contrast to the strength of the Government on public expenditure: the 460 million that the State will have to pay to clear the case of the Taiwan frigates will reduce all departments appropriations, since they will be pledged amounts frozen at the beginning of the year.