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July 31 Alstom will replace Thales in the CAC 40Election period is more synonymous with social truceAccording to counsel the Germany is no need to take any decision on what either todayWhen he called me I only had never met himEquality of opportunity it is also work for allThus the unemployment rate has dropped to 7Deliberate provocation the law requiring local authorities to balance their budgetsIf the original is fuzzy the photocopy will be blurredTwo other agencies should soon see the dayA little more formality in a market still very secretIt is a nice pot on which Bercy, prudent, strives to maintain the discretion: at mid-year, the tax revenue of the State are clearly in advance from the walking plan, with excellent receipts of the tax (IS). According to our information, after payment of the second of four instalments, of June 15, the product IS registered an increase of 12.5 from mid-June 2005. At mid-term, tax 2006 profits of companies (including the annual lump sum taxation) has previously reported, net of refunds, 24.4 billion euros, i.e. EUR 2.7 billion more than a year ago.
Even if the results of the SI must be interpreted with caution because likely to fluctuate in unexpected ways, they are greeted with relief at the Ministry of economy and finance. Bercy feared, indeed, that the modification of the calculation of the IS reached in extremis last December to inflate revenues 2005 of EUR 2 billion in anticipating the benefits of the year, not possibly result in a settlement in 2006. There is nothing to the contrary.
In his report to the June 22 budget orientation debate, the Government provided 500 million of fiscal surplus, in 2006, the tax on corporations. "The advance of June is a critical deadline", reads in this report, bringing optimism. In fact, if the pace continues, annual value could rise to more than 5 billion euros, from the 41,48 billion IS revenue planned Finance Act.
However, the State can hardly count, for the moment, the good results of the business and, to a much lesser extent, those of the wealthiest households: the proceeds of the tax on wealth (ISF) 2006, paid on June 15, rose by 14 and reached EUR 3 billion for the first time.
Disappointing VAT receipts
The main other taxes remain in line with forecasts. This is the case of VAT revenues, net of refunds, are even rather disappointing. However, the Government expected, mid-June, to record a surplus of 1 billion euros of VAT to the prediction of 2006 (EUR 125,73 billion) budget.
Total budget is in was, a few days ago, the prognosis of Jean-François Copé: 3 billion euros of tax surplus up to the year 2006. June figures lead to double the assessment. But the Government the minore to not expose themselves to spending pressures of departments, which will intensify as that is going to refine the last draft budget to the legislature in 2007. So it may reserve a surprise of size: suppression of all that remains of employer social contributions at the level of the minimum wage. An assessment has been commissioned to the Ministry of finance.
It was a commitment of Jacques Chirac, who promised to businesses "zero social responsibility" at the level of the minimum wage in 2007. The Fillon cuts, which represent a supported by 26 points, it remains 2.1 of contributions for social security (non-contributions of accidents at work). Their removal would cost approximately 1.4 billion euros. But it would be the way to break the deadlock in the reform of the base of contributions (see below).
