5 billion euros next year and companies 2

Of tax increases, and sprains to the tax shield and a specific contribution of the richest: amplified by the crisis, the funding of the pension system needs have forced Nicolas Sarkozy to stand out, in part, tax guidance which it hoped to maintain until the end of the quinquennium.

Increases of taxes for the pensions, only intervene at the next year, will rise to 3.7 billion euros in 2011 and $ 4.6 billion in 2020, or an increase in taxation of the order of 0.2 point of GDP. For the sake of fairness, the Government took care to meet at same height, or almost, the levies on households ( 1.5 billion euros next year) and companies ( 2.2 billion). The effort is not harmless: for companies, for example, it represents more than a third of the gain generated by the business tax reform. But there is still insufficient in the eyes of the unions: "clever", the presentation of the project "highlights the contribution of senior revenue." "But it is not up to the challenges in terms of distribution of wealth and out of the crisis", regretted the unified national Union of taxes. The last contribution of the high income is "cosmetic", agree with the Socialist Party.

Bercy, which measured the sociological impact of each measure, yet provides the contrary. For two of them - the increase of the last tranche of tax revenue and the increase of the fixed levy at source-, this does little doubt: these are clearly associated with the more affluent samples. But the removal of the abatement of 25.830 euros on capital gains and the removal of the tax credit on dividends (read below) will also affect some small savers. "It's marginal," assure in Bercy. Measures also weigh more on (most numerous in the last instalment of the IR) assets on retirees, according to the studies of impact of Bercy, what is likely to re-emerge the issue of l ' tax fairness between generations.

The less attractive plan

However, the tax measures announced yesterday isolate not the France, on the contrary. The United Kingdom and the United States also made the choice to increase the tax on the income of the richest. A single measure appears to be an exception: recovery charges on stock options, which makes the system much less attractive than elsewhere in Europe. It is true that Nicolas Sarkozy was never very tender towards this type of remuneration, that patterns of banks continued to give itself despite the crisis.

Announcements of yesterday attracted a great deal of reservations among tax counsel, United to condemn the "death" of the tax shield, this device to limit its taxes (including CSG and CRDS) to 50 of its revenues. "A shield that passes an arrow is no longer a shield", follower of also the Elysee until last winter. However, it is not less than four tax increases that will now "offset" in the calculation of refunds.

In addition to recovery of 1 point of the last tranche of IR, increases the fixed levy at source and the taxation of the capital gains securities and real estate (of 1 point in all cases) more will place for restitution. "The right pay the price for its excesses," regretted a parliamentary majority, believing that the device could have held if he had not been extended to social security payments in 2007. In fact, tax increases will not particularly concern the beneficiaries of the tax shield: owners of large estates, they are however not be all imposed in the last instalment.

Introducing the pension reform, the Government also lifted the veil, with three months in advance, on measures to reduce the niches fiscal and social, of EUR 5 billion in 2011-2012. The removal of the tax credit on dividends and of the discount on capital gains, the annualization of the relief of loads of companies, the review of the mother-daughter scheme and the pension reform hats represent EUR 3.1 billion. By adding a blow of 10 on the "appropriate" niches plane, the Government approaches its commitment to make 5 billion savings on the niches in the fall. In fact, he hopes go beyond.