France assesses tax break for grandparents to mobilize surplus savings during Covid

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France assesses tax break for grandparents to mobilize surplus savings during Covid


Photographer: Christophe Archambault / AFP / Getty Images

France assesses tax breaks for grandparents who hand over money to their grandchildren in order to economic recovery and mobilize more than 100 billion euros ($ 118 billion) in excess savings accumulated during the pandemic.

Turning Spending savings are crucial for the economies of European countries like France, where massive government assistance to support incomes during lockdowns has been largely hidden from consumers. French Finance Minister Bruno Le Maire estimates that the sum of surplus savings could reach 200 billion euros by the end of the crisis, double the amount the government has forecast plan to revive economic growth.

Savings surplus

France’s excess savings stock is expected to continue growing until 2021

Source: Bank of France

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