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France announces €45bn effort to shield country from energy cost increases
(EurActiv, 26 Sep 2022) Finance minister says energy price rises to be capped at 15% as he outlines key elements of budget bill.
The French government plans to spend €45bn shielding households and businesses from energy price shocks in a budget focused on bringing down inflation.
The finance minister, Bruno Le Maire, said the increase in the cost of gas and electricity would be capped at 15% from January. Gas and electricity price rises are currently capped at 4% until the end of the year in what is known as the bouclier tarifaire (tariff shield).
Outlining key elements of his 2023 budget bill on Monday, Le Maire said it was financed “down to the last euro” and the government’s No 1 priority was fighting inflation at a time of unprecedented uncertainty due to Russia’s war against Ukraine.
“The most important and the most urgent challenge for France and other European nations is to bring down the inflation pressure,” the minister told journalists on Monday. “We don’t want to increase taxes and we want to protect households,” he added.
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EurActiv, 26 Sep 2022: France announces €45bn effort to shield country from energy cost increases
