Some will have a light addition of revenue

Professional equipment and movable property tax is removed since January 1. What is the final gain for businesses

The reform of the tax professional (TP), the Constitutional Council has validated for the most part, will change whole parts of taxation for business and local communities. The tax burden of these first is reduced from 12.3 billion euros this year and $ 4.8 billion years following, net of tax. A Simulator will be implemented soon, on the site of the Ministry of the economy so that each company can assess its gains. The cost of a productive investment will be reduced by 22 on average. From the professional tax, reducing the tax burden on average exceeds 50 for SMEs and 15 for large companies. And despite the new assessment on the added value of companies, the burden on wages is also reduced by EUR 1.8 billion in 2010. In the end, we hope that reform will encourage companies to invest each year billions of euros extra.

Communities, which saw TP EUR 27 billion and will not receive 15 billion in respect of the territorial economic contribution, are very concerned for their financial autonomy...

Brice Hortefeux and I will soon send a mail to all communities to explain the benefits of reform, and the guarantees on their resources: almost full compensation of the TP by dynamic tax resources, equalization funds, distribution of a quarter of the assessment on the added value criteria representative of the needs of the communities (population)(, road construction, social spending), guaranteed individual resources of each community... By the end of the week, 36,000 towns, all departments and regions will have on the website of the Ministry of the economy of a simulation of the tax product which they will have next year.

One thing is certain: the reform protects communities from the effects of the crisis by guaranteeing them, a minima, revenue at least equal in 2010 than 2009. Some will have a light addition of revenue.

The Constitutional Council annulled the tax system of the professions, taxed in respect of their revenues. What do you do

The decision of 29 December effect is to lighten EUR 770 million the tax burden of BNC and net EUR 530 million holders deducting the increase in the income tax next year. Impact on own resources of the Commons and, indirectly, on the expenditure of the State, would be very important: that is why we are studying the possibility of revising the draft law to take account of the comments of the Council, which challenged the difference in treatment between companies using less or more than 5 employees. In passing, I note that he returns on a law dating back to January 10, 1980.

Do you understand the arguments of the Council on the cancellation of the carbon contribution, or do you think it's a political decision

I cannot doubt that there is a real legal logic behind this decision. Nevertheless, I regret that the Council has not taken into account the difference in status between undertakings subject to the European market of quotas of CO2 emissions and other. Now, this is no crying on the overturned milk and we will take into account the objections of the Council. I note all the same thing: the very principle of the tax, its level and redistribution to households are not delivered in question. So, we did not intend to modify the component household carbon contribution. Same thing for the most exposed professionals, such as the Teamsters, farmers or fishers: fares that were provided are not in dispute and may therefore be kept.

It is a central topic, namely the 1.018 industrial facilities emitting more CO2 that were fully exempt...

We felt that these undertakings subject to the system of CO2 quotas already faced constraints and financial burdens. They must gradually reduce their CO2 emissions by 21 by 2020 and thus benefit from quotas in decreasing numbers. They must acquire additional quotas on the market. Everything is not free and, as of 2013, allocations of quotas will become gradually paying. However, the Council argue their free short-term and we must change our copy on this point.

All these companies will be affected by the new carbon contribution

We are working on the possibility to apply a reduced rate and also implement other incentive mechanisms or the caps, for example on the basis of value added. I have concern for the competitiveness of these companies and there is no question of taxing all - will of the sectors to the fragile economic balance. I plead for a mechanism of taxation differentiated according to their exposure to international competition and the energy intensity of production.

Will the net impact in terms of samples be completely neutral, as in the household

It is too early to tell, but we cannot take the risk of a new censorship. However, one can imagine a levy lower the 2.15 billion that would cost the stricto sensu of the tax application to these companies.

Will the mechanism be perennial or transitional until 2013

We will see, but in all cases it probably a revoyure clause. There are particular uncertainties on sustainability or non-free quotas for some areas beyond 2013; It is a decision of the European Commission.

What perspective do you wear on the economic situation Are you going to change the forecast of growth of the budget

It is likely because we have built the budget on a 0.75 growth in 2010 and the consensus is around 1.5. The IMF and OECD also believe that the France will be better than expected. For my part, I am cautious, and I want the stay. I am very attentive to the international environment and, for example, that told Angela Merkel on 31 December the Germans on the situation: "certain things may even become more difficult again, before finally improving." I think that there will be at least 1 in 2010.

Do you fear a relapse

The substance of things, in my view, is that there is a huge global rebalancing. True tectonic plates move. We are witnessing a consolidation of China's growth as well as a profound change in economic policy of this country. We must also continue to follow closely the Chinese exchange rate issues. And, in this context of rebalancing, investments for the future that we prepare for the national debt are an important card to play to give us real relay of growth for the future.

Should we put the French failure in nuclear in Abu Dhabi on the account of the tectonic shift you are talking about

I have no lesson to give, but companies must be listening to their client. "The customer is King", it is a principle that I have always applied in my earlier professional life. The French offer was probably not the best calibrated. Is not simply a matter of cost, even if you know that we were a little more expensive than the Koreans.

The distribution of credit is a determining element of the situation. Where are we

The stock of credit are better than in the euro area and better than in past recessions. But the situation is very mixed. Credits to households grew. Large companies turned to bond markets. For SMEs, the situation is different. I will see banks in early February on the question of the financing of the economy, and including, the evolution of cash credits, which are to fall over one year. There is the wait of the companies, but not only. On the ground, there are sometimes also required and conditions that prevent the establishment of a vital enterprise credit. I had asked to each bank a plan of action for 2009. I would ask the Bank to develop a new plan of action and to take new commitments for 2010. It must be that the banks remain mobilized for recovery is not hampered by a lack of credit.