Former Minister of Jean-Marc Ayrault, Arnaud Montebourg was a double title auditioned in the Senate on Tuesday, May 6, 2025, as part of the commission of inquiry on the use of public aid in large companies. As an ex-minister of productive recovery, and as now a businessman, at the head of 12 companies-several of which receive public aid.
He defended a shareholder state rather than a state that subsidizes, “Rather than giving refundable advances, the time has come from a partner state, which will invest, he places his money and participates in development” of the company. The current period, observes the former minister, is very similar to that of “Resession of the 2008-2009 recession”. Despite the aid maintained or created, “We failed to reconstruct the previous industrial GDP despite the efforts. We went down a big walk that we never managed to go up ”.
“We have no plan and when we have one, we do it badly”
In this area, Arnaud Montebourg vigorously attacked the PGE, the loan guaranteed by the State that Emmanuel Macron launched in the middle of the Pandemic in support of companies. Today, “On the ground, it’s a butcher’s shop”Assène Arnaud Montebourg. The reason? The very design of this loan, of a total of 120 billion, granted over 5 years.
“Companies could rise to 25 % of their turnover, to be reimbursed after five years. 25 % of the turnover over 5 years is 5 % year. 5 % is the average income of a healthy business », And ask them to reimburse on so little time, “This is what puts them in the red” By absorbing their margins, assures Arnaud Montebourg. “There are 18 billion PGEs to recover, the state is today, and puts boxes in the commercial court, it is a stupid policy”.
The USA, he explains, have built COVVIA loans to reimburse over thirty years. It is this choice of time long made by the Biden administration (questioned in part by Trump to date) which explains, according to the former Minister of François Hollande, “That half of the Giga Factory who planned to settle in the European Union finally took a ticket for the USA following inflation Reduction Act”this large investment plan of $ 370 billion in 2022.
Without waiting for a European plan, according to him, national policies are needed “No subsidy but protective. It is necessary to protect Renault or Stellantis without delay Ursula von der Leyen ». “But if we stay open to the 4 winds, this money will be used for something” Object the rapporteur Fabien Gay. A word rarely pronounced enters the room: “We would have nationalized Arcelor Mittal ten years ago, as I wanted, we would have a better form steel. The British do it, the Japanese do it (…) We have no plan and when we have one, we do it badly ”. Close the ban.
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