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Or even have with enough ideas on the issueMore and more companies are considering to goBut the Chair cannot remain long unoccupiedOf course they have failed in large widths57 dollars per report during the previous dayThe cost reduction planSame caution regarding financial also journals forecasts downwardThey are also much more healthy financiallyPataquès Government on the reform of the post2 times 2007 are higher than the market recognizesAnd the need for a mobile is a little lessNotice of winds on the finances of local communities. Their cases perform less well, while their spending, they continue to accuse a "sustained growth". In 2008, revenues of municipalities, departments and regions (181 billion) are growing by 3.8, a rate lower than that of last year ( 4.7) and their management expenditure (141,4 billion), encrypted 5.5 by Dexia Credit Local in its latest memo on the economy. At the time, their bottom of wool decreases. And their ability to finance their investments with their own resources back of 3.6, this after first settlement ( 1.8) in 2007.
"As the other economic actors, local communities are the first effects of a less favourable economic environment", yesterday was Gérard Bayol, administrator and CEO of this financial institution. The departments are the most affected. The reversal of the real estate market should indeed result from 2007 a "shortfall" of 300 million euros in respect of the rights of mutation, a tax which over three-quarters of the product ( 10.1 billion in 2008) is general advice.
Local communities do not escape the PLD. The price increases that Commons will have to bear this year is 3.6, Dexia considers on the basis of a clean structure of consumption index. Borrow is also expensive: last August, short rates were 5.16, or a good half percentage point higher than in August, 2007 (4.59). A trend that the crisis in the financial markets is not likely to reverse. With it, the cash-strapped lenders will be more rare, if it is already the case. Banks are already less quick to engage and respond to the calls for tenders a year ago.
Staff expenditure
Other factors, less in relation to the macroeconomic context, have an impact on local government spending. Half, significant increase ( 8.1) observed on staff expenditure (52 billion euros) is further transfer personal TOS and DDE in the departments and regions, or some 50,000 officers this year. Endowments of the State (45 billion euros), now placed under the authority of the "contract of stability" are also less favourably ( 1.1 in 2008).
Finally, the local assemblies have lifted the foot on local taxes: the tax burden increased 0.8, or as much as in 2007, very moderate compared to the previous year (2.5 in 2006 and 3.1 in 2005 all communities combined). The performance of the four local direct taxes in was little affected. Their product (EUR 64.7 billion) increased 4 as a result of a good progression of the bases.
Increase in debt
Some heavy expenditures have also stopped to pack. Those social assistance of the departments (25 billion euros), increasing thus "that" 3, or more than one point and a half less than in 2007. This slowdown is directly attributable to the decline in the number of RMI.
This year, local communities have also reduced their investments. The volume of their expenses, amounted to EUR 51.9 billion, is a decrease of 1.6 over 2007. Responsibility to the House: their Executive, just be renewed this year, have not yet committed their projects. Communities not in not less continued to go into debt. 7 Billion euros, indicates Dexia, figure their total outstanding to 126 billion euros. This increase represents only 0.3 of GDP, underline its representatives.
