Yellow vests: measures to offset the recent losses of companies

Six immediate steps to respond to requests from professional organizations.

All the representatives of the economic sectors met in Bercy on November 26, 2018, during the presentation of a micro-badistance plan, which will be supervised by a business continuity unit. The Minister of the Economy and Finance, Bruno Le Maire, announced the immediate establishment of six measures to meet the demands of professional organizations.

Spreading social and fiscal deadlines should first be introduced, "company by company", To take into account the impact of events on turnover.

In the same vein, the Minister of Labor, Muriel Pénicaud, was charged with studying the implementation of "partial unemployment measures for all companies that may need it"But also of"additional openings on Sundays for businesses that would not benefit", Said Bruno Le Maire.

The minister also asked "insurers to ensure that they accelerate compensation for all branches and sectors that would have been affected by operating losses", And to the banks of"implement facilities in case of overtaking overdrafts".

Finally, Bpifrance will raise its guarantees on cash loans from 40% to 70%, and will postpone a number of loan repayment dates to reduce the cash flow of the businesses affected by the events.

Offset the severe impact on national economic activity

"The observation of all economic sectors is clear: recent events have a severe impact on national economic activity", Explained Bruno Mayor after the crisis meeting in Bercy.

The minister recalled the consequences of the actions of the movement of "yellow vests" after a second weekend of mobilization. In supermarkets, the loss of turnover reached 35% on Saturday, November 17 and 18% on Saturday, November 24. In the week, it would range between 8% and 15%. For "some butchers, hairdressers or bakers, the reductions in turnover can reach 60 to 70%"While the losses for the wholesale markets are evaluated between 30 and 40%," he detailed.

"Not only are some stores closed or suffer from filtering, but warehouse blockages pose supply problems. Sites today can not open because they have not been delivered", says Jacques Creyssel, General Delegate of the Federation of Commerce and Distribution (FCD) in an article of the World, denouncing a"cumulative effect".

Risks also in terms of image for France, which could suffer from these events. "For a nation that has been restoring for 18 months (…) these images are obviously in the wrong direction and they are disastrous for the image of our country. Across the Champs-Élysées, the whole of France whose attractiveness is weakened", Said Bruno Le Maire.