Factbox: How France plans to emerge from the COVID-19 crisis

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PARIS (Reuters) – France announced a € 100 billion ($ 118 billion) stimulus to spur a post-pandemic economic rebound in 2021, with a focus on investments in a greener economy, creating jobs and strengthening the country’s competitiveness.

French Prime Minister Jean Castex speaks as Minister of Labor Elisabeth Borne, Minister of Ecological Transition Barbara Pompili and French Minister of Economy, Finance and Recovery Bruno Le Maire listen during a press conference to present his government’s economic recovery plan after the Covid-19 pandemic, in Paris, France on September 3, 2020. Ludovic Marin / Swimming pool via REUTERS

Here are the details of the plan:

TOWARDS GREENER ENERGIES

The government has allocated 30 billion euros to finance a transition to more environmentally friendly policies, including:

* 11 billion euros oriented towards the transport sector, including 4.7 billion euros for railways to increase freight traffic and add more regional lines. Nearly 2 billion of this amount will be used to cover losses during a coronavirus lockdown at the national railway company SNCF. Another priority is cycle paths in towns.

* 6 billion euros for the renovation of public buildings and private housing

* 2 billion euros over two years for the hydrogen industry, considered as a new generation energy alternative to fossil fuels. The objective is to invest 7.2 billion by the end of the decade.

* 2 billion euros for incentives for the purchase of electric cars and 2 billion euros for research and development of more environmentally friendly aircraft.

* 1.2 billion euros to help farmers move towards more environmentally friendly agriculture.

THE FRENCH BOLSTERING COMPETITIVENESS

The plan limits 35 billion euros to make the economy more competitive. He understands:

* 20 billion euros in corporate tax reduction over two years

* € 1 billion in direct aid for industrial projects, including € 600 million to help companies repatriate their activities

* € 11 billion to complete an existing two-year long-term investment program.

SOCIAL COHESION, JOBS

The plan devotes 35 billion euros to “social cohesion”, including 15.3 billion to create 160,000 new jobs and protect workers whose jobs are at risk, as well as more vocational training and apprenticeship.

* Almost half of the employment support (6.7 billion) will be used to help the 750,000 young people entering the labor market in a context of stagnation. It includes support for companies recruiting young people and apprentices and the creation of 200,000 vocational training places.

* 6.6 billion euros for a reduced long-term work program.

* 1 billion euros to train employees threatened with dismissal in new skills

* 1 billion euros for training in sectors that the government wants to promote, such as clean energy.

(1 USD = 0.8457 euros)

Reporting by Leigh Thomas and Caroline Paillez; Edited by Richard Lough and John Stonestreet

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