PURCHASING POWER LAW. It’s D-Day for the first support measures for the purchasing power law. Fuel discount of 30 cents, borrower insurance, student grant… All the changes this Thursday, and the key dates for the month of September.
[Updated September 1, 2022 at 8:07 a.m.] This Thursday, September 1, the first effects of the purchasing power law will be felt. Indeed, motorists should see the effects of the increase in the fuel discount on their credit card receipt at the service station. Indeed, this fuel bonus goes from 18 euro cents to 30 euro cents per liter purchased. A second additional discount of 20 cents is available at Total stations. In other words, from today, the discount can reach 50 euro cents per liter purchased at any service station in mainland France. This fuel discount will increase to 10 euro cents on November 1, then end at the end of the year, on December 31, 2022.
Another notable change this Thursday, the revaluation of student grants. They increase by 4% for the 2022-2023 academic year, and all levels are concerned (from 0 to 7). Finally, the reform of the borrower’s insurance comes into force definitively and for all. It is now possible to terminate your loan insurance contract at any time, even for current contracts (left aside until then). Thanks to this second part of the Lemoine law, the right to be forgotten goes from 5 to 10 years, and the medical questionnaire is removed under certain conditions. Do you have any doubts about the effective date of one of the support measures of the purchasing power law? Here is the full schedule below:
Promulgated on August 16 and published in the Official Journal on August 18, the purchasing power law brings together numerous aid measures in favor of the purchasing power of the French. The text, which was enriched by parliamentarians, includes three components: protection of household living standards, consumer protection and energy sovereignty. The emergency measures it carries represent 20 billion euros in expenditure, included in the 2022 amending budget which includes other support measures (exceptional back-to-school aid, continuation of the tariff shield on energy, fuel discount. ..). These measures come in the context of rising consumer prices, and in particular energy prices due to the war in Ukraine. In July 2022, according to INSEE, the rise in inflation reached 6.1% over one year.
The fuel discount of 18 euro cents per liter of fuel purchased is over! Make way for the discount of 30 cents, promised by the government as part of the purchasing power bill. On September 1, 2022, this discount will be effective directly at the pump in all French service stations. An operation valid until October 31. Beyond that, the premium will drop significantly, dropping to 10 euro cents from November 1 to December 31. In all likelihood, it should disappear by the end of the year.
To support the purchasing power of the French in the face of rising inflation, the government has decided to draw its inflation bonus again, an “exceptional back-to-school bonus” this time, in the amount of 100 euros! 50 euros will be allocated for each additional dependent child. Unlike the first inflation bonus distributed at the end of 2021, this one will be more targeted, it will concern the 10.8 million poorest households in France. In particular, RSA recipients or APL and AAH beneficiaries. The payment date is scheduled for September 15, 2022. Please note that it is quite possible that the transfer will not reach your bank account until a few days later, as the payment is scheduled for a Thursday. The banking times applied by your bank can vary quite widely.
The date of payment of your retirement pension, with the 4% revaluation (relating to the purchasing power bill) is now known! Indeed, the increase in basic pensions will take place on September 9, 2022 for the August retirement, as indicated on the Pension Insurance website. The lengthening of the parliamentary calendar delayed this payment by one month. Indeed, this increase was only approved on August 3, 2022. Originally, this first payment should have been made on August 9. A retroactive effect to July 1 will be applied.
Scholarships based on social criteria will be increased by 4% from the start of the 2022 academic year for the 2022-2023 academic year. This increase will apply from level 0 bis to 7 without distinction. Over the past two years, the amount of scholarships had increased by only 1%.
The ceiling of the Macron bonus is tripled: this “value sharing bonus”, paid by the employer to the employee on a voluntary basis, was until now capped at 1,000 euros and could reach 3,000 euros. In addition, companies that have signed a profit-sharing agreement and companies with fewer than 50 employees could see the bonus ceiling increase from 2,000 to 6,000 euros. The payment of this bonus by companies may be split over the year, up to four installments. Finally, an employer who has already paid a bonus of 2,000 euros at the beginning of 2022 will be able to give a second between August 1 and December 31. Thus, an employee will be able to receive up to 8,000 euros of Macron bonus in 2022. From 2024, it will always be exempt from social security contributions, on the other hand, it will be subject to income tax.
The tv license fee is over! Indeed, its abolition was formalized and validated by the Constitutional Council in August. This tax of 138 euros in mainland France and 88 euros overseas will no longer be deducted from you! Good news for 23 million taxpayers. Be careful however, the loss of revenue for the State should be compensated through VAT. The abolition of the TV license fee will lead to a cascade of refunds from the tax authorities from the start of the 2022 school year. Want to know the date of your refund? Here are the different deadlines depending on your situation:
The first payment of the back-to-school allowance took place on August 16th. Please note that this year, a second installment should be paid during September. This 4% bonus corresponds to the increase in social minima, a measure voted by deputies and senators during the summer. This second payment will be between 15 and 16.50 euros depending on your family situation.
By December 31, 2022, an employee will have the possibility of releasing their profit-sharing or profit-sharing without being subject to tax. Please note that the total amount that the employee wishes to release must not exceed 10,000 euros.
The amount of the civil service index point has been completely frozen since 2017. Indeed, for more than five years, no general increase in the remuneration of public officials has taken place. Only a few categorical increases have been implemented by Emmanuel Macron since his election as President of the Republic in 2017. But, as of this year, the civil service index point will experience a further increase of 4% from the 1st July. In reality, this increase will only be visible from August, with retroactive effect from July 1. The various unions were demanding an increase of between 3% and 20%.
