“I will never accept being accused of concealment in my functions as Minister of Finance”: the tenant of Bercy, Bruno Le Maire, vigorously defended himself, this Thursday, May 30, of having concealed from Parliament information on the slippage in the public deficit in 2023, which “brutally” rose to 5.5% of GDP compared to 4.9% initially anticipated.
For almost three hours, Bruno Le Maire was on the grill of questions from the senators from the Finance Committeewhich launched a mission at the end of March on the deterioration of the public deficit and the “lack of information from Parliament” on the situation.
Criticized by oppositions for the slippage in the deficit, the government attributed it to tax revenues of 21 billion euros lower than expected last year, due in particular to a decline in inflation faster than expected. ‘anticipated. “All the information was given in good time to Parliament and the French, and all the necessary decisions were taken in good time to correct the consequences of lower tax revenues than expected,” argued Bruno Le Maire.
“Deficit forecasts are not an exact science”
The minister recalled that 10 billion euros of savings had already been made in state spending and that he was looking for 10 billion additional cuts to be made in 2024. “All the accusations (…) that I “I would have deliberately concealed from Parliament information which was at my disposal is serious, unfounded”, he defended himself.
The minister thus responded to the general rapporteur Jean-François Husson (LR) who, during lively discussions, was alarmed by a “withholding of information” from the government, already aware, according to him, of the slippage to come for 2023 well before until the figure is revealed. “Deficit forecasts are not an exact science,” explained the minister, citing the “very strong cyclical uncertainties” that could vary the assessment of corporate tax revenue (IS) and the trajectory of growth. economic. “I would have had the responsibility to disclose this information if it had been definitive and certain. However, the forecasts in this note turned out to be incomplete for some and inaccurate for others,” he added.
Bruno Le Maire, however, recognized “an error in the evaluation of tax increases”, especially the IS, which he said he would like not to see happen again. He also said he was in favor of better communication between the government and Parliament on public finances.