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110 Billion Euros Waste

110 Billion Euros Waste: The Cost Of Inefficient French Government’s Assistance to Companies

Wednesday 19 June 2013, by Sylvain C

The French Government supporting private companies thanks a system of financial assistance: what an economic heresy! Yet, over the last thirty years, it has become the creed for French Governments, whether conservative of leftist. Four figures are to be pointed out:

- 6 000 aids are available for companies.

- 15 000 civil servants are managing these financial aids in the Central administration and local governments.

- 700 million euros is the yearly cost to run this administration.

- 110 billion euros is the total amount of aids given to companies.

And of course, it does not work at all. The French economic growth on Q1 is at -0.2%, unemployment reached 10.8% in May, business context is deteriorating and the economic momentum is non-existent. Do we need any more proofs that Government’s intervention in the economy is a waste of taxpayers’ money?

https://en.irefeurope.org/Publications/Other-publications/Key-Figures/110-Billion-Euros-Waste-The-Cost-Of-Inefficient-French-Government-s-Assistance-to-Companies

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