France: Can we see effects of the fall in the cost of capital?

Have the abolition of the solidarity tax on wealth (on financial assets) and the shift to a 30% flat tax on capital income (called PFU, flat rate tax) from January 2018 had positive effects on the French economy? The committee created to assess the reform of the solidarity tax on wealth in September 2019 concluded that it was too early to see any effects of this reform. As this reform is leading to a significant fall in the tax on capital and in the cost of capital, it should lead to: An increase in equity financing of companies; An increase in residents’ holding of equities; An increase in corporate investment; Savings being used more to buy financial assets and less to buy housing; But also an increase in dividend payments. When we look at the trend in these variables, even though it is obviously impossible to make a solid assessment by observing six quarters, we see: An increase in corporate investment; An increase in households’ financial savings; A slight rebound in dividend payments.