Is the “whatever the cost” really over?


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Economist Christophe Ramaux and journalist Étienne Lefebvre discuss, on franceinfo Tuesday, August 31, the end of a large part of state grants and loans to help companies cope with the health crisis.

The solidarity fund has cost 35 billion euros, loans and subsidies 240 billion euros since March 2020. The government is sounding the end of “whatever the cost”. “We needed a state firefighter, we intervene, but we do not seize the opportunity to reflect well on the springs of our society. Without what it costs, the economy would have collapsed. Which is worth for the Covid-19 in an exceptional way, it is generally valid. The public pole is not a ball, it involves the private sector “, says Christophe Ramaux, member of the Terrified Economists.

I don’t feel like I’m getting out of ‘whatever the cost’. Emergency aid is decreasing, such as partial unemployment or the solidarity fund, because business activity is picking up again and they need it less. What worries me is that we have launched long-term spending that goes far beyond the health crisis. The budget of the ministries increases by ten billion euros in 2022 compared to 2021 to reach almost 300 billion. We pile up the expenses. We have to make choices, which we don’t do, “said Étienne Lefebvre, editor-in-chief at Les Échos.”You don’t necessarily have to reduce, but you have to choose “, he insists on franceinfo on Tuesday, August 31.

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