Le finanze pubbliche francesi sono ancora peggiori del previsto, ammette un alto ministro

***The Telegraph reports:***

France’s public finances are [even more dire than feared](https://www.telegraph.co.uk/business/2024/07/15/france-dangerously-exposed-financial-shock-national-auditor/) following an “extremely rapid rise in spending”, Emmanuel Macron’s outgoing finance minister has admitted.

Bruno Le Maire blamed lower tax revenues and a splurge by local authorities for a massive overshoot in spending compared with plans set out earlier this year. 

The gridlocked French government is facing a deficit that threatens to spiral out of control, he admitted in a letter to parliamentarians on Monday. 

“The main risk is linked to an extremely rapid rise in spending by local authorities, which alone could affect 2024 accounts by €16bn (£13.5bn) compared to the 2024-2027 stability programme,” the finance minister said in a letter first reported by the Financial Times.

France’s deficit is now on course to hit 5.6pc this year, dwarfing the EU’s 3pc target and undermining [the government’s efforts to limit it to 5.1pc](https://www.telegraph.co.uk/business/2024/04/21/macron-drastic-miscalculation-on-france-national-debt/). 

**Read more:** [**https://www.telegraph.co.uk/business/2024/09/03/french-public-finances-worse-than-feared-senior-minister/**](https://www.telegraph.co.uk/business/2024/09/03/french-public-finances-worse-than-feared-senior-minister/)

Government spending is pushing 60% of the GDP in France, the highest ratio in the world. French functionaries are skilled at spending money like drunken whores and then pointing the finger at every other functionary but themselves. Louis XVI was decapitated for his ostentatious excess displayed by living in Versailles, but the amount of public monies that have been pissed away over the last 50 years dwarf that construction when you total them all up.

My dudes, you’ve been in charge for the last 7 years (even more, if you consider that Macron was finance minister before his first election), maybe own up to your own goddamn mistakes?

Well, except of course wasting billions of euros is “business aid” is not a *mistake* per se, but the entire goal.

Don’t forget the real danger for public finances, according to Macron, are the leftists.
Not his party or his predecessors, who have been giving away billions to corporations and boomers like candy for the last 50 years

Le Mozart de la finance

Oddly enough, if you refuse to reform the administrations, refuse to tax the rich, but give two dozen billions (on average) each year to the ultrawealthy without any auditing afterwards… The debt situation becomes worse.

Who could have guessed.

Of course the fact our minister of economy spends more time writing soft porn (6 or 7 books so far) instead of actually working may not have been helping either.

For the record I had faith in Macron. For a couple of months, back in 2017 or so. Dude decided to reform key sectors which actually needed reforms, he pushed hard against the poor but swiftly cancelled the reform on the rich (for instance notaries; and notaries in France are literal hereditary aristocrats paid 8000€ a month for being wildly inefficient, on a market where they have a legal monopoly). At this point I knew Macron was not only a moron, but a dangerous one, and it continues to prove true ever since.

Am i wrong or is putting together a budget actually one of the (few) things that the president needs the parliament for in France?