This does not mean that the Government change radically from tax strategy

The time of the tax cuts are gone (removal of business tax, tax research, the interests of debt relief credit, etc.). This does not mean that the Government change radically from tax strategy. Proponents of the rigour, who hoped to restore massive revenue, are for their expenses. In total, 11 billions of new levies provided year next-13,5 billion the following year-, distributed almost equal between households and businesses, are very far from clear the 70 billion of tax cuts granted since 2000. Despite a very proactive speech on the reduction of the tax benefits, the Government has waived touch to the niches on the corporate tax, tax on wealth and VAT - other than on combined offers "triple play". And he surrenders to a single measure of the Labour Act, employment and purchasing power of 2007: the mortgage interest tax credit. Excluding savings on relief of loads, affecting all institutions to $ 2 billion business levies are targeted on a handful of sectors: banking, insurance, Internet access providers.

It is to be at all costs avoid the measures amounted to a general tax increases. "There is no tax increase, it is a choice. "We are first and foremost on spending", the Budget Minister François Baroin said yesterday. By integrating outstanding levies - the exit tax of 2 billion on the insurers including-, the Government has relatively good account and hopes to delay the painful choices to post-2012. Paradoxically, the opposition shouted both to the clubbing ("the highest increase of levies since 1995") and the lack of courage: "Should go much harder on tax niches." "It will not restore the accounts of the nation, it does restore not the dynamism to the French company if it continues with this tax injustice," said Michel Sapin, national Secretary of the PS in charge of the economy.

Effort "too timid".

Parliamentarians of the majority are not very far from thinking the same thing: they deem "too timid" effort and are preparing to defend a series of amendments to reduce the research tax credit, remove the incentive tax credit and eventually... the tax shield. They are all the more reassembled the effort on niches is partially virtual. It does not mean that the current envelope of the tax and social benefits (officially 75 and 45 billion) is reduced by $ 10 billion. Is effort, in fact, on the trend, i.e. the amount that the benefits would have reached year next fault of measures. The renewed activity, it should translate into additional revenue EUR 12 billion, expects the Government, on the basis of an assumption of 2 growth. They will not yet regain their levels from before the crisis: they will remain below 10 billion euros, to those of 2008. The corporate tax should bring 44.3 billion, or 9 more than this year. Responsiveness to growth will be somewhat less important for VAT (estimated at 130.6 billion, 3) and the tax on income (59.5 billion, 7.3). Between 2012 and 2014, tax revenues are "naturally" from 15 to 19 billion per year. The caution is on non-tax revenue, since the state table on a decline in the proceeds of its shareholdings (-0,9 billion) in 2011.

Between the revenue rebound, after the crisis and the effect of measures on the niches the Government had to deal with a political constraint: the rate of mandatory levies should not exceed the level of 2007 (43.2 of GDP) in 2012. A respected the point close command.