On Wednesday 26 August, the French Prime Minister underlined the size of the European participation level in financing of the 100 billion euros of the post-Covid-19 Economic Recovery Plan, which his government will present on 3 September.
“Of this 100 billion, it’s totally unprecedented, 40 billion will come from Europe”, said Jean Castex on France Inter. He also added that: “We need to advertise when Europe is doing its job. And Europe has done it exceptionally well. This means that 40% of the National Recovery Plan will be supported on a shared scale across the Community as a whole”.
The 40 billion euros in European aid corresponds to the share set aside for France in the European Recovery Plan that the EU-27 agreed on 21 July during negotiations on the multiannual financial framework 2021-2027 (see EUROPE 12532/2).
The French Recovery Plan should be composed as follows: - 40 billion euros for the re-industrialization of the country, including 20 billion over two years of tax cuts on production and 3 billion to companies in difficulty; - 20 billion for the ecological transition (energy efficiency in buildings, rail freight); - 20 billion to support skills (bonuses for hiring young people, integration contracts); - 20 billion to support the most disadvantaged, including 6 billion for investment in the health sector. (Original version in French by Mathieu Bion)