At Medef, we breathe. For its deputy chairman, the speech of the President of the Republic allows companies and the French to finally have a clear framework for the coming months. However, there is no question of giving up the pension reform, believes Patrick Martin, who proposes to tackle it next spring in a “calm manner”. The latest figures on the expected deficit of the pension system are “chilling” he believes.
Did the intervention of the President of the Republic reassure you?
The intervention of the President of the Republic had the merit of clearing the horizon by setting realistic deadlines. His speech was able to demonstrate pedagogy and was effective. He listened to us on the need to reopen the shops this weekend. But I still have some concerns for the sectors that will have to wait until the beginning of next year and some questions.
Which ones?
The devil will be in the details. In particular, I have questions concerning the methods of taking into account the 20% of turnover in the support granted to professions which are at a standstill. This concerns cafes, restaurants, but also to a certain extent private hotels which remain open but are deprived of a large part of their clientele, as is the case in Paris. The period entering into the calculation of this support should be long enough to cover part of the lost turnover. It is a matter of survival for many companies.
The latest figures from the Pension Orientation Council confirm a deterioration in the accounts. What do you propose ?
The emergency must first go to supporting and reviving the economy. But then we will have to tackle structural reforms such as unemployment insurance and pensions. Failure to do so is to place the problem on future generations. Business leaders, investors and the French are seeing the debt increase and the debt reaching record levels. Without having a clearer horizon, everyone takes refuge in the wait-and-see approach and strengthens their precautionary savings. This hoarding phenomenon can be terrible for the economy.
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