The government back to business

“I do not envisage a universal measure” further postponement of the repayment of government guaranteed loans (PGE), because “The remedy would be worse than the disease”. “Shifting back a year, I think this general, cross-cutting measure is not good for anyone. I could have considered it if the economy had not restarted, if we were still in a situation of great economic difficulty, but, there, (…) the economy is restarting. “

These words, the Minister of the Economy Bruno Le Maire made them just a month ago, on November 15, in front of the employers of the hotel and catering industry. Monday, December 13, the tenant of Bercy did not back down: the EMPs granted to companies during the health crisis will be extended ” only “ until June 2022, six months longer than previously. But the tone has changed significantly: after a meeting with the industry sector this time, the executive announced a “support plan for companies subject to supply tensions”. Among the devices proposed by Mr. Le Maire, Elisabeth Borne, the Minister of Labor, and Agnès Pannier-Runacher, her counterpart delegated to industry, few new developments, but above all a strong message: in the short term, we need a “Cash flow support for affected companies” by shortages of raw materials (steel for aeronautics, maritime freight, semiconductors in the automobile …), hammered Mr. Le Maire.

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Indeed, it is the strong rebound of the economy, but also of “Structural tensions” which lead to the current difficulties of industrialists, argues Bercy. Thus semiconductors, of which “The number in an electric vehicle has been multiplied by three” compared to a thermal car, said the minister to those concerned. “All of this is not going to go away overnight. “

No additional budgetary cost

Based on this observation, Bercy will launch a loan of up to 5 million euros for industrial SMEs and mid-size companies (ETIs), with a maturity of up to ten years, with two years of deferred amortization. In addition to the loans guaranteed by the State which have already been extended, the conditions for granting existing mechanisms for reimbursable advances and loans at subsidized rates (also in force until the end of June 2022) will be relaxed: they can be combined with PGE, which was previously impossible. Partial activity, and in particular long-term partial activity, is again widely encouraged. Companies will also be able to more easily request payment facilities from the general public finance department or Urssaf to stagger the payment of their tax and social contributions (property contribution, tax debts, etc.).

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