Several new features come into force on Wednesday February 1, 2023. Tariff shield, reform of unemployment insurance, increase in the rate of the booklet A… Linternaute.com takes stock of all these changes.
[Updated February 1, 2023 05:06 AM] On Wednesday, February 1, 2023, many changes come into effect, which could have a significant impact on your personal finances. First, concerning regulated savings books. The livret A, the LDDS as well as the LEP see their rate of remuneration significantly increase, in particular because of the level of inflation. In this regard, the Minister of the Economy Bruno Le Maire has followed the recommendations of the Governor of the Banque de France. On the other hand, among the bad news, the rise in the price of tolls, electricity and gas should be taken into account. Also, be aware that the first part of the unemployment insurance reform based on the principle of countercyclicality is emerging. In other words, the compensation may be adjusted according to the state of the labor market. The full update on what is changing today.
The rate of the favorite savings product of the French is increasing! Indeed, from February 1, 2023, the booklet A has a rate of 3%, against 2% until then. Its highest level since 2009. With this new remuneration, and for an average savings of 5,800 euros, you will pocket 174 euros at the end of the year, or 58 euros more than with the old rate. Remember that the Livret A is an interest-bearing savings account whose funds are available at any time. This account is free of charge and the interest paid is exempt from income tax and social security contributions. Know that anyone, adult or minor, can have an A booklet.
Good news for savers, the popular savings account rate is increasing significantly! As of February 1, 2023, the LEP rate of pay will increase from 4.6% to 6.1%. In other words, for a savings of 5,000 euros, you will pocket 305 euros at the end of the year, or 75 euros more than with the old rate. As a reminder, the LEP is twice as profitable as the livret A, on the other hand, the payment ceiling is set at 7,700 euros (excluding interest) against 22,950 euros for the livret A. Also, be aware that to claim it, your taxable income must not exceed 20,297 euros for a single person. The popular savings account rate is revised twice a year by the Minister of the Economy, on the recommendations of the Governor of the Banque de France.
As of February 1, 2023, the rate of the sustainable and solidarity development booklet (LDDS) will increase from 2% to 3%. In other words, for 2,000 euros invested, you will pocket 60 euros in interest at the end of the year, which is 20 euros more than with the old rate. The LDDS is granted for the purpose of carrying out energy saving work, and participates in the financing of the social and solidarity economy. Any adult person residing in France has the possibility of opening an LDDS within the limit of one per person, up to two per tax household. For minors, its opening is subject to the declaration of personal income and separate taxation of the parents.
The price of tolls is set using an automatic formula linked to the rate of inflation. As of February 1, 2023, the average increase reaches 4.75%.
The first stage of the principle of “countercyclicality”, this somewhat barbaric term allowing the government to define the parameters of compensation for jobseekers according to the state of health of the labor market, comes into force. From February 1, a 25% reduction in the benefit period will be effective, as soon as the unemployment rate drops below 9%. A measure that concerns all new job seekers. For a jobseeker registered from February 1, 2023, benefiting from 24 months of unemployment under the old rules, the new rights could plummet to 18 months. If the unemployment rate is above 9%, entitlements are restored to 100%. All the details available in our dedicated article.
While the energy crisis suggests large increases in gas and electricity prices this winter, the price shield, already extended until December 2022 for gas, and until February 1, 2023 for electricity, is renewed in 2023. The increase in gas and electricity prices is limited to 15%. The limitation is higher than that of 2022 (which was 4%) and it concerns “all households, condominiums, social housing, small businesses and the smallest municipalities”.
The government has increased the budget allocated to MaPrimeRénov’ aid, from 2 billion euros in 2022 to 2.5 billion euros in the 2023 finance bill. As a reminder, MaPrimeRénov’ is an aid to the energy renovation proposed by France Rénov’ and calculated according to your income and the ecological gain of the work. On December 22, 2022, the Minister for Ecological Transition, Christophe Béchu, also announced in a press release that the ceilings for works that can be financed by this system will be increased on February 1, 2023, in order to take inflation into account.
The MaPrimeRénov ‘condominium aid, which is used to subsidize energy renovation work on the common areas of condominiums, will see its ceilings raised “from 15,000 to 25,000 euros”. The MaPrimeRénov ‘serenity’ aid, which for its part finances renovation work allowing an energy gain of at least 35%, will see its ceilings “raised from 30,000 to 35,000 euros to better support the most modest households in their comprehensive renovation projects”.