Industry and investment, Nicolas Dupont-Aignan
Industrial aid and reshoring: €4bn reshoring fund for factories in rural areas
Direction of change: increase, compared with current law.
The lever. Support for industry in France: aid, public procurement, trade protection, conditions attached to aid. Direction rule: ↑ more public aid to industry.
« Créer un fonds d’aide à la relocalisation doté de 4 milliards d’euros, attribuant des aides à l’investissement en échange de l’implantation de nouvelles usines en zone rurale. »1Translation by the editorsCreate a reshoring aid fund endowed with €4 billion, granting investment aid in exchange for setting up new factories in rural areas.
Encoding
| Parameter | Current law | Programme | Effective date or horizon |
|---|---|---|---|
| Additional public aid to industry | 0 €bn/year | 4 €bn/year (assumption by the editors, see the costing) | In full year 2032, compared with current policies under which France 2030 has expired |
Costing
Announced by the candidate
−€4bn
per year, cost to the public accounts. Économie page (10 Oct. 2026): « un grand fonds d’investissement et de relocalisation doté de 4 milliards d’euros par an » [“a large investment and reshoring fund endowed with €4 billion a year”], which « devra, à terme, s’autofinancer via les profits retirés de ces investissements » [“will, in time, have to be self-financing through the profits drawn from these investments”]
Published costings
none
No external costing of this position recorded to date.
Our calculation
−€4bn
per year for the public accounts, new spending. Candidate’s amount, taken as is.
The calculation
- Additional public aid to industry: (4 − 0) ÷ 1 = 4 times “+€1bn of public aid to industry per year (subsidies or tax expenditure)”, each a cost of €1bn (1 to 1).
Assumption by the editors. Reading adopted: the €4bn fund on this page is the fund « doté de 4 milliards d’euros par an » [“endowed with €4 billion a year”] on the Économie page, counted as aid each year. The same Économie page elsewhere announces a « Label Tricolore » fund of €5bn a year, not added here; it also provides for the fund to become self-financing in time: if it takes equity stakes rather than subsidising, part of it would be a financial transaction (debt), not part of the balance.
Figure announced by the candidate: candidate’s amount, taken as is.
Current law, sources and limits of the cost schedule
Current law. France 2030 plan: €54bn (including PIA 4). Payment appropriations proposed in the PLF 2026 for its two programmes amount to €5,128m. The end of roll-out was envisaged around 2027-2030. The green industries investment tax credit (C3IV) is extended for projects approved until 31 December 2028 (art. 39 of the LF 2026, act no. 2026-103; decree no. 2026-763). The rate was cut by 5 points according to two analyses, which has not been checked in the text.
Horizon. In full year 2032, compared with current policies under which France 2030 has expired.
Limits. The figure of €5.1bn corresponds to the payment appropriations (CP) proposed in the PLF 2026 and not voted (the Senate cut them by €1bn at first reading). The bounds of €4bn to €6bn are an order of magnitude chosen by the editors around this figure, not a source. The annual cost of the C3IV (green industry investment tax credit) is not in the sources read (« Voies et moyens » annex, volume II, of the PLF 2027, not consulted). A 2025 amendment puts forward about €3.7bn cumulatively up to 2030. A “conditionality of aid” costs nothing and can save money if it reduces the amounts. Compatibility with EU State aid law is not assessed.
- Note de présentation de la mission « Investir pour la France de 2030 », PLF 2026 (Sénat, commission des finances), 2025-10: « « le montant des crédits de paiement proposés dans le projet de loi de finances (PLF) pour 2026 atteint 5 128 millions d'euros, soit une hausse de 8 % » ; « recouvre 54 milliards d'euros d'investissements » »
- C3IV prorogé : le Gouvernement fixe l'entrée en vigueur (Fiscalonline / Option Finance, via résultat de recherche), 2026-08: « Article 39 de la loi n° 2026-103 de finances pour 2026 : prorogation pour les projets agréés jusqu'au 31 décembre 2028 ; entrée en vigueur après le décret n° 2026-763 (JO du 11 août 2026). »
How to read these amounts. These are static costs and revenues, with no feedback effect, over a full year: nothing on growth, employment or the revenue that economic activity would gain or lose. A higher net cost does not on its own make a worse policy, nor net savings a better one: each programme rests on an economic model (demand-led stimulus, lower compulsory levies, consolidation of the public accounts…) that the cost schedule does not settle. GDP itself measures a volume of activity, not well-being or the usefulness of what is produced. Economic models and feedback effects.
This lever in the method · Costing for Nicolas Dupont-Aignan
- debout-la-france.fr, Projet, « Produire en France ». Read the programme page.
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