The profits that exploit French motorways go well beyond what was initially planned.
Bruno Le Maire confirmed this Tuesday that the government intends to tax the excess profits of motorway companies in the 2024 budget. “I confirm to you that we will put in place taxation to avoid the excess profits that have been made by the motorway companies”declared the Minister of Economy and Finance on LCI. “We are currently evaluating the modalities,” he added in response to a question about the amount of this tax.
In a statement to Reuters, Vinci Autoroutes, a subsidiary of Vinciwas surprised by the words of the Minister of the Economy. “Vinci Autoroutes and its president, Pierre Coppey, are surprised that the minister speaks of ‘excess profits’, while the Transport Regulatory Authority, responsible for controlling the profitability of motorway concession companies, has established the opposite”declared the motorway infrastructure concessionaire.
“Higher” but “not excessive” profitability…
In a document published in July, the Transport Regulatory Authority had observed profitability of concessions “above market expectations” without however establishing a “manifestly excessive profitability”.
Read also :
Economy: The government is considering a tax targeting motorway companies which could bring in 3 billion euros
In a statement to Reuters, Paris-Rhin-Rhône motorways, subsidiary of Eiffagedeclined to comment “because we have no information on the content of the taxation project and have not been informed of the opinion of the Council of State”. In July, Philippe Nourry, president of Eiffage’s motorway concessions in France, declared to Le Figaro that he was ready for anything “to enforce the law and our contracts” and in particular to “tackle” the State if necessary.
2023-09-12 13:53:52
#Motorway #profits #Bruno #Maire #announces #tax #excess #profits #concessionaires #ready #retaliate
