Concern about the economic future and taxation encourages the French to save more towards safe investments, according to the Odoxa survey for Groupama, BFM and Capital.
“This is an absolute record of economic distrust”worries Gaël Sliman, the president of Odoxa, who surveyed the French for Groupama, BFM Business and Capital in mid-October. 59% of employees say they are less confident about the economic situation of their company, a drop of 7 points since April and 20 points in three years. As for the spectacle given to the National Assembly at the start of the vote on the budget for next year, with more than 60 billion in new taxes mentioned by the various parliamentary groups (but not yet voted on), in addition to the 30 billion wanted by the Barnier government, this is not to reassure the French! “8 out of 10 say they are worried about the evolution of taxation in France and 80% of them think that the tax effort announced by Michel Barnier will in fact concern everyone”according to Gaël Sliman.
Consequences ? The French, like good squirrels (17.5% savings rate compared to an average of 15% over the last 25 years), continue… to save! “72% manage to do this every month, including 15% for more than 500 euros”notes the Odoxa survey. This “savings frenzy” largely explains the success of the Popular Savings Booklet (LEP) and the Retirement Savings Plan (PER): “37% of French people (more than 11 million people) have already subscribed to a LEP and 23% to a PER (+8 points of awareness in two years)”explains Gaël Sliman.
Why the super-rich will not all pay the Barnier surtax: our simulations
Especially since these two products, LEP and PER, provide absolute security for the first and no risk of capital loss and the same for the second, provided you invest in the famous fund guaranteed in euros, present in the PER as well as in life insurance. The LEP, open subject to means testing only to the most modest, is currently remunerated at 4%. An excellent rate, especially as the product is completely tax-exempt (no income tax or social security contributions on earnings). With the fall in inflation, however, his remuneration should fall on February 1, 2025, certainly to 3%.
Livret A, LEP: will their rate fall after the plunge in inflation?
The PER euro fund also provides absolute security, but with an average return of 2.60% in 2023, which could fall to 2.50% in 2024. “Whatever, because the French always make security the key criterion (1st with 39% of quotes): it is cited twice as often as investment performance”concludes Gaël Sliman.
Receive our latest news
Every week, the key articles to accompany your personal finance.