Report
France: Who bears the cost of the higher level of social welfare than in the other euro-zone countries?
The French enjoy a significantly higher level of social welfare (public spending on pensions, healthcare, families, housing, the labour market) than that in the other euro-zone countries. But at the same time, this generous social welfare leads to a high tax burden and may therefore come at a cost to: Wage earners, if they pay high social contributions or if wages are reduced by the high level of corporate social contributions; Companies, if profits are reduced by the high level of their social contributions; Growth, if the high level of corporate social contributions reduces investment or employment. The facts seem to show that France’s generous social welfare comes at the cost of a lower employment rate as a result of the high level of corporate social contributions .
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Natixis
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Patrick Artus
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