Tax expenditures, subsidies and fraud, Raphaël Glucksmann
Public aid to businesses: Redirect the €211bn of public aid to businesses
Direction of change: change of another kind, or uncertain direction, compared with current law.
The lever. Subsidies, tax credits and exemptions granted to businesses: amount, conditions, commitments in return (jobs, climate, dividends). Direction rule: ↑ more aid.
« Il y a par exemple 211 milliards de cadeaux fiscaux ou d'exonération pour les entreprises. On a un ancien ministre des Finances et de l'Économie qui dit lui-même qu'on ne sait plus à quoi servent ces fonds. On va les réorienter »1Translation by the editorsThere are for example 211 billion in tax gifts or exemptions for businesses. We have a former Minister of Finance and the Economy who himself says that we no longer know what these funds are used for. We are going to redirect them
Words of Raphaël Glucksmann, franceinfo, « Que proposent les candidats à la présidentielle pour réduire la dette publique ? » (propos tenus devant la caméra de France Télévisions), 29 September 2026. Position taken from public statements, not from a written programme.
No programme released. Positions taken from public statements, words of associates or documents of the candidate’s party, each dated and sourced; last recorded on 21 October 2026.
Encoding
No cost-schedule parameter for this position: see the costing for the reason.
Costing
Announced by the candidate
not announced
The cited source does not cost this measure.
Published costings
none
No external costing of this position recorded to date.
Our calculation
not costed
Redirection of aid with no amount or targeted scheme: nothing to cost.
Current law, sources and limits of the cost schedule
Current law. There is no legal definition and no regularly updated official costing. The Senate commission of inquiry (report No. 808, July 2025) estimates aid at « au moins 211 milliards d'euros en 2023 » [“at least 211 billion euros in 2023”] in the broad sense, and at €108bn excluding Bpifrance, reclassified tax expenditures and VAT. The minister at a hearing: €150bn (40 in tax expenditures, 30 in budget spending, 80 in reductions in social contributions). In national accounts terms, non-financial corporations received €73bn in aid in 2024 (Fipeco).
Horizon. Full year; 2023-2025 values.
Limits. The scope is decisive: it makes the amount vary from €73bn to €211bn. The cost schedule uses only one, without overlap: the €30bn of budgetary spending in the minister's breakdown. Reductions in social contributions (€80bn) are costed under the “Reductions in social contributions on low wages” lever, tax expenditures (€40bn) under the “Tax and social security expenditures” lever. Changing the reductions has an effect on employment; static costing does not measure it. Making aid conditional (counterparts) cannot be costed as such. The 10% cut is given by the linear parameter; the abolition of the CIR (research tax credit) is under the « niches-fiscales » lever. Reduction announced as an amount without a list of the aid targeted: a pure amount with no named measure, not costed, cited next to the total (decision 1 of 18 October 2026, common rule), like the cut in production taxes announced as an amount (“Production taxes” lever).
- Sénat, rapport n° 808 (2024-2025), synthèse, Aides publiques aux entreprises, 2025-07-01: « Au sens large, les aides publiques aux entreprises atteignent au moins 211 milliards d'euros en 2023 ... estimation globale ... de 150 milliards d'euros, ventilée ... entre les dépenses fiscales (40 milliards d'euros), les dépenses budgétaires (30 milliards d'euros) et les allègements de cotisations sociales (80 milliards d'euros) ... passe de 211 à 108 milliards d'euros »
- Fipeco, Aides reçues et prélèvements payés par les entreprises, 2025-12-18: « Le montant des aides reçues par celles-ci était de 73 Md€, soit 4,8 % de leur VA »
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.
- franceinfo, « Que proposent les candidats à la présidentielle pour réduire la dette publique ? » (propos tenus devant la caméra de France Télévisions), 29 September 2026. Words of Raphaël Glucksmann. Position taken from public statements, not from a written programme. Read the source (franceinfo, « Que proposent les candidats à la présidentielle pour réduire la dette publique ? » (propos tenus devant la caméra de France Télévisions)).
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