Bruno Le Maire announces the creation of a green savings plan for those under 18


Bruno Le Maire, Minister of Economy and Finance, during a press conference on pension reform, January 10, 2023, Paris.

“We will create a climate savings plan that can be opened by parents (…) from the birth of their child, announced Bruno Le Maire, Minister of Economy and Finance, on RMC and BFM-TV, Monday, May 15. The Minister assured that this green savings plan will have a ceiling aligned with that of the Livret A (22,950 euros) but a remuneration “superior” and a ” guaranteed capital and exceptional tax conditions: zero tax, zero contribution”he specified.

Mr. Le Maire justifies the creation of this savings plan by the fact that the“industry requires a lot of capital. There is public capital (…) but private savings must also be mobilised”. To be able to finance long-term projects, it will not be possible to make withdrawals before the majority of the saver, except for an accident of life. The allocation of the funds will be controlled by the Caisse des dépôts et consignations, according to Mr. Le Maire, in order to ensure that the savings, once released, are indeed allocated to investments. “strictly and rigorously green”.

Annual collection could reach one billion euros “to its full potential” and the “future climate savings plan” could be distributed by banks and insurance companies. This measure is part of the bill on green industry which must be presented Tuesday, May 16 in the Council of Ministers, with the objective of promoting a carbon-free reindustrialization of France.

The other issue is to respond to the Inflation Reduction Act. This American investment plan for industry and decarbonization – of 400 billion for the climate component alone – subsidizes purchases and investments for companies that manufacture on American soil. Since the Congress vote in the summer of 2022, Europeans have feared a drop in investment and a wave of relocations in favor of the United States, whose establishment could be favored by these subsidies.

Read also: Article reserved for our subscribers Bruno Le Maire wants to pass his green industry law this summer

The World with AFP


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