PUBLIC FINANCES AND ACCOUNTS
THE NATIONAL BUDGET
IN 2019
Results and management
Summary Report
April 2020
2
Summary of the report on the national buget in 2019
g
DISCLAIMER
This summary is intended to help understanding and using the
report prepared by the Cour des comptes.
Only the report is legally binding on the Cour des comptes.
The response of the the Ministry of Public Action and Accounts
appear after the report.
3
Summary of the report on the national buget in 2019
Contents
Introduction
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7
1
The national deficit deteriorated sharply in 2019
for temporary reasons
9
2
Net national revenue decreased in 2019 due to the
increase of the portion of VAT allocated to social security
13
3
State spending accelerated in 2019 but the improvement of
budgeting and management is confirmed
17
4
Beyond the general budget, state financial resources
require increased supervision
19
Recommendations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
5
Summary of the report on the national buget in 2019
The constitutional mission of
assistance of the Audit Office to
the Government and Parliament
The closure of the budget year and settlement of accounts requires the
government, in application of article 46 of the Constitutional Bylaw on Budget
Acts of 1 August 2001, to introduce a budget review bill before 1 June of the
following fiscal year . This retraces budget operations and closes the accounts
of the past fiscal year . It is accompanied by a general account for the State, a
management report and yearly performance reports concerning each of the
missions of the national budget .
Within the framework of the mission of assistance to the government and
parliament entrusted to the Government Audit Office under the provisions of
article 47-2 of the constitution, provision 4 of article 58 of the Constitutional
Bylaw on Budget Acts provides for ‘a report filed conjointly with the bill of
settlement concerning the budget outturn for the previous budget year and
associated accounts, which, in particular, analyses the execution of credits per
mission and per programme’ .
The report on the national budget in 2019 aims to enable the assessment of the
results of the budget year and the quality of budget management . Its publication,
brought forward two weeks compared with the previous year, is accompanied by
the online publication on the Government Audit Office website (www .ccomptes .
fr) of 61 budget outturn analysis notes for each of the missions of the general
budget and special accounts, three analyses of the outturn of fiscal revenue, non-
fiscal revenue and fiscal expenditure, and two analyses devoted to withholdings
on income for the benefit of territorial authorities and the European Union .
The documents provide a deep analysis of the budget outturn per major public
policy . They are accompanied by recommendations and complement the overall
diagnosis formulated by the report on the national budget .
The Government Audit Office also monitors the recommendations it formulated
in the reports concerning the management of the national budget established
for 2017 and 2018 . In addition, it monitors the 50 recommendations sent by the
First President in a référé, on 19 July 2017, to the Minister of Public Action and
Accounts . This référé identified the recommendations made by the Government
Audit Office in the budget outturn analysis notes for the previous years and for
which rapid implementation was considered to be accessible . The Government
Audit Office decided to follow the recommendation of the référé in the budget
outturn analysis notes for a period of 3 years; it is therefore doing it this year for
the last time .
7
Summary of the report on the national buget in 2019
Introduction
The national budget outturn report for 2019 is published by the Government
Audit Office in application of provision 4 of article 58 of the Constitutional
Bylaw on Budget Acts of 1 August 2001 .
It covers 2019, therefore a period
prior to the beginning of the health crises.
This report was finalised during a period when the health situation imposed
a confinement that also applied to financial jurisdictions and administrations .
It does not cover 2020 and the consequences of the crisis on public finance .
These will be the subject of an initial analysis in June 2020 in the Government
Audit Office’s report on the situation and the outlook for public finances .
In 2019, the national budget outturn was marked by several specific events .
With respect to revenue, two major reforms took place, with the deployment
of withholding tax on income and the replacement of the tax credit for
competitiveness and employment (CICE) by reductions in social security
contributions . The budget programme provided for by the government financial
bill for 2019 was significantly amended during the parliamentary debate with
the adoption, in December 2018, of measures to support household purchasing
power . These events significantly influenced the 2019 budget year, which ended
with a sharp increase in deficit compared with 2018, even if it was less than that
projected in the Initial Budget Act .
National budget balance in 2007-2019
Source: budget review act for 2007 to 2018, the budget directorate for 2019
0
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
- 20
- 40
- 60
- 80
- 100
- 120
- 140
- 160
en Md€
8
Introduction
Summary of the report on the national buget in 2019
The pace of the progression of state expenditure grew but the improvement in
budgeting and the outturn of expenditure, observed in 2018, was confirmed in
2019 . Examination of all the resources mobilised for the deployment of public
policies reveals the necessity to reinforce the supervision of fiscal expenditure,
allocated taxes and funds with no legal personality .
9
Summary of the report on the national buget in 2019
An increase in the budget
deficit in 2019 due to a large
extent to new measures with
exceptional and temporary
effects
The major changes that took place
in 2019 had a notable impact on the
balance of the
budget (€-92 .7 bn) .
On
one
hand, the
deployment
of
withholding tax in 2019 resulted in a loss
of income tax revenue .
Withholding tax
on a large part of the revenue is collected
by the State with a delay of one month;
the sums withheld on the income of
December 2019 were thus collected in
January 2020 and are attached to the
2020 budget year, leading to a loss of
revenue of €5 .2bn in 2019 .
This eff
ect
will disappear in 2020, as the State now
collects 12 months of withheld revenue
every year .
On the other hand, in 2019 the
combination
of
the
CICE
and
the
reduction
of
social
security
contributions that replaced it have led
to a temporary double expense for
the State .
Indeed, to compensate the
loss of revenue for the social security
administrations, a new portion of VAT
was transferred to them, leading to a
decrease in the yield of this tax for the
State, whilst the CICE still burdened the
national budget for €19 .2bn in 2019 .
Its cost will decrease progressively; it is
estimated at €9bn in 2020 .
1
The national deficit
deteriorated sharply in 2019
for temporary reasons
National budget balance in 2018 and 2019
Source: Government Audit Offi
ce (data from the budget directorate)
10
Summary of the report on the national buget in 2019
Beyond
these
exceptional
and
temporary
losses
in
revenue, the
deterioration of the deficit is also due
to the consequences of the measures
decided in December 2018 following
the social movements of the autumn,
which entailed permanent additional
expenditure or less revenue for the
State, for a total cost of €7bn in 2019 .
Correcting it for these two exceptional
effects (the cost of the CICE, €19 .2bn,
and the loss of income tax revenue,
€5 .2bn), the national deficit for 2019
was €68 .3bn, which, all being equal,
represents an improvement of €7 .7bn
compared with 2018 .
A budget deficit less than in the
initial budget act
Although the national budget deficit
The national deficit deteriorated sharply in
2019 for temporary reasons
significantly increased in 2019, it is less
than forecast: the deficit is therefore
€15 .0bn lower than that projected in
the initial budget act .
This difference
is partially the result of expenditure,
which was €2 .4bn less than the
initial forecast,
principally
due to
lower debt servicing costs (-€1 .8bn) .
Nevertheless, the improvement of
the budget balance is essentially the
result of revenue that was much more
dynamic
than
expected
(+€9 .3bn)
– notably including fiscal revenue
(+€7 .8 bn) – and an improvement of
€3 .1bn in the global balance of special
accounts (including revenue of €1 .8bn
from the sale by the State of shares of
La Française des Jeux) .
General
budget
revenue
2019
IBA
General
budget
expenditure
Annex
budgets
Special
accounts
2019
budget
outturn
Passage from the Initial Budget Act to the 2019 budget outturn (in €bn)
Source: Government Audit Offi
ce (data from the budget directorate)
11
Summary of the report on the national buget in 2019
The national debt continued to
grow at a fast pace in 2019
Due to the high level of budget deficit,
the national debt increased sharply
in
2019
to
reach
€1822.8bn
The
need for state financing (essentially
corresponding to the amortisation of
the debt and the deficit to be financed)
reached €220 .5bn, a much higher level
than average for the 2010-2018 period
(€188bn) . The issuance of mid- and long-
term debt reached the ceiling voted in
the initial budget act (€200bn in 2019),
regularly increasing over several years
considering the accumulated deficits .
Needs for national financing (in €bn)
Source: Agence France Trésor
NB: The presentation of the financing table was changed in 2014. The series in the new
format has been approximately reconstituted before 2006, resulting in a slight break in
the series for 2006.
The evolution of the public debt
was nevertheless partially checked
by the high amount of premiums
and discounts on issuance, reaching
€19 .9bn (net of buybacks), a level
that was clearly superior to that of
2018
(€10 .8bn), within
a
context
of a sharp decline in interest rates
during the first part of 2019 and a
market appetite for the issuance of
securities based on older instruments
with higher coupons . The premiums
received since 2015 contribute to
the reduction of the public debt ratio
(98 .1 GDP percentage points) by 3 .2
GDP percentage points for all public
administrations for 2019 .
The national deficit deteriorated sharply in
2019 for temporary reasons
0
50
100
150
200
250
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2001-2007 average
2010-2019 average
12
Summary of the report on the national buget in 2019
The national deficit deteriorated sharply in
2019 for temporary reasons
Debt servicing costs decrease
in 2019
However, the growth of the national
debt did not entail an increase in
debt servicing costs, which stood at
€39.1bn
in 2019 . On the contrary,
the continuation of the decrease in
interest rates and the reduction in
inflation reduced the debt burden
between 2018 and 2019 (-€1 .4bn) .
The strong growth of the national
debt since the crisis of 2008 (+98%)
nevertheless makes the state highly
vulnerable to rate increases .
National debt burden and outstanding debts during the 1997-2019 period
Source: Agence France Trésor
0
0
5
10
15
20
25
30
35
40
45
50
1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019
400
800
1 200
1 600
2 000
In €bn
Apparent debt rate (in %)
Outstanding debt (l.)
Debt burden (r.)
en Md€
3,5 %
3,2 %
4,3 %
4,4 %
4,8 %
5,5 %
5,8 %
6,4 %
3,0 %
2,6 %
2,3 %
2,1 %
13
Summary of the report on the national buget in 2019
After withholdings on income for the
benefit of territorial authorities and
the European Union, national revenue
reached
€233.3bn
, i .e .
€15 .0bn less
than in 2018 .
This decrease is the
principal reason for the aggravation of
the national budget deficit in 2019 .
The decrease in national revenue
is essentially due to fiscal revenue,
which fell by €14 .1bn between 2018
and
2019 .
This
decrease
can
be
principally explained by the increase in
the portion of VAT allocated to social
security administrations (+€31 .2bn)
in return for the increase in the
reduction of social contributions and
the allocation to the State of part of
taxes on capital revenue formerly
funding social security .
Added to this measure of transfer are
the temporary effects that burdened
fiscal revenue in 2019
(cf .
page 7): the maintenance of the
cost of the CICE (€19 .2bn) and the
one-off
loss of revenue (€5 .2bn) due
to the deployment of the withholding
tax that led to, for a large portion of
revenues, only 11 months of income
tax revenue to be recorded for 2019 .
Net national revenue decreased
in 2019 due to the increase
of the portion of VAT allocated
to social security
2
Revenue in the national general budget (in €bn)
WOI: Withholdings on income
Source: Government Audit Offi
ce (data from the budget directorate)
14
Summary of the report on the national buget in 2019
Evolution of national fiscal revenue between 2018 and 2019 (€bn)
Source: the budget directorate, Government Audit Office calculations
Excluding
all
new
measures,
the
‘spontaneous’
evolution
of
fiscal
income in 2019 is +3 .2% . Their GDP
elasticity,
i .e .
the
relationship
of
their growth rate to that of the GDP,
thus reaches 1 .1, a value close to the
average observed since 2001 .
GDP elasticity of fiscal revenue over the 2001-2019 period
Source: budget documents, the budget directorate for 2019, Government Au-
dit Office calculations
Net national revenue decreased in 2019 due to
the increase of the portion of VAT allocated
to social security
2018 budget
outturn
2019 budget
outturn
Spontaneous
evolution
New
measures
Transfers
295,4
9,4
- 0,5
- 23,0
281,3
- 2
- 1
0
1
2
3
4
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
15
Summary of the report on the national buget in 2019
Net national revenue decreased in 2019 due to
the increase of the portion of VAT allocated
to social security
Net state revenue very superior
to the forecast of the Initial
Budget Act
Although
it
has
decreased
when
compared with 2018, the yield of the
State’s net revenue (after withholdings
on income) in 2019 exceeded the
initial forecast by €9 .3bn .
Net state revenue in 2019 (after withholdings on income) –
difference between the forecast and the budget outturn (€bn)
WOI: Withholdings on income
Source: Government Audit Office (data from the budget directorate)
Fiscal revenue accounted for the
greater part of this gain (+€7 .8bn) .
The difference derives in part from
income
tax
(+€1 .3bn),
corporate
tax (+€2 .0bn), but especially from
‘other net fiscal revenue’ (+€4 .5bn) .
This category, which groups different
revenue (withholdings at the source
on investment revenue, donation and
inheritance rights, property wealth tax,
taxes on capital revenue previously
allocated to social security entities,
etc .), benefited from the dynamics
of investment revenue and the good
health of the property market .
Non-fiscal revenue, reaching €14bn
in 2019, was €1 .5bn higher than
projected in the Initial Budget Act
due to gains in various categories of
revenue, notably including fines .
A significant increase
in State tax sharing
2019
marks
an
evolution
in the
sharing of state fiscal revenue . With
an increase of €31 .2bn in the amount
of VAT allocated to the social security
administration, it is now over a quarter
of this tax that is no longer received by
Initial Budget
Act forecast
Net fiscal
revenue
Non-fiscal
revenue
WOI
224,0
7,8
1,5
0,1
233,3
Budget outturn
16
Summary of the report on the national buget in 2019
the State, as the regions themselves
already receive a portion (2 .45%) .
This sharing should increase in the
future because from 2021 the French
departments should in turn receive a
portion of the VAT within the context
of the reallocation of taxes related to
the cancellation of the residence tax .
Distribution of VAT between the State, social security and the regions, 2006-2019 (€bn)
Source: Insee, national accounts until 2018, Ministry for Public Action and
Accounts for 2019
NB: the portion represented in 2019 (€41.5bn) for social security corresponds
to the cost for the national budget in 2019 and not for social security accrual
revenue.
An increase in withholdings on
income compared with 2018
Withholdings on income (WOI), for
a total amount of €61 .9bn in 2019,
increased by €0 .9bn compared to
2018 . WOI for the benefit of the
European Union reached €21bn in
2019, i .e . €0 .4bn more than in 2018,
but €0 .4bn less than projected in the
Initial Budget Act, for reasons that are
a priori one-off and not permanent .
WOI for the benefit of territorial
authorities stood at €40 .9bn, an
increase of €0 .6bn compared with
2018 . This progression is compliant
with the new contractual framework
established between the State and
local authorities implemented by
the public finance programming law
for 2018-2022 .
Net national revenue decreased in 2019 due to
the increase of the portion of VAT allocated
to social security
0
40
80
120
160
200
the State
the social security administration
the regions
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
17
Summary of the report on the national buget in 2019
General
budget
expenditure
(excluding fonds de concours and
attributions
de
produits)
reached
€330 .3bn in 2019, i .e . €2 .4bn below
the
Initial
Budget
Act
forecast,
notably due to savings of €1 .8bn on
the debt burden .
Realistic budgeting,
as in 2018
The
significant
improvement
of
expenditure
budgeting
and
risk
management observed in 2018 was
confirmed in 2019 . Under-budgeting
identified by the Government Audit
Office stood at €1 .44bn, a level close
to that of 2018 and much lower than
previous years . The adjustment of
the level of credit for expenditure
enabled the limitation of the amount
of credit placed in reserves to manage
contingencies . As in 2018, and for the
second time in over thirty years, no
decree of supplemental appropriation
was necessary in 2019 . The opening
and annulation of credit during the
period, exclusively performed in the
Supplementary Budget Act at the
end of the year, remain clearly lower
than the average observed during the
previous ten years .
Expenditure targets partially
respected
Concerning expenditure norms, the
ceiling defined in the IBA for the scope of
‘steerable expenditure’ was respected:
in the outturn, expenditure was €1bn
below
this
ceiling .
Nevertheless,
the government announced at the
beginning of 2019 its intention to save
€1 .5bn to contribute to the measures
decided after the social movements of
autumn 2018: this ambition, set forth
in the programme of stability in April
2019, was not respected . Moreover,
considering
the
acceleration
of
expenditure
in
2019,
the
ceiling
fixed by the law of public finance
programming of January 2018 for the
same scope of steerable expenditure
was exceeded by €3 .3bn .
An acceleration of expenditure
compared with 2018
General budget expenditure (including
fonds de concours and attributions
de produits) grew by 2 .2% in 2019
(on a constant consolidation basis),
significantly higher than that of 2018
(+0 .4%) .
State spending accelerated in
2019 but the improvement of
budgeting and management is
confirmed
3
18
Summary of the report on the national buget in 2019
State spending accelerated in 2019 but the
improvement of budgeting and management
is confirmed
Rate of evolution of general budget expenditure
Note: rate of expenditure variation from one year to another, on an n/n-1 constant
consolidation basis, without restating exceptional expenditure.
Source: Government Audit Office (data from the budget directorate)
This
dynamic
is the
result
of
a
strong increase in expenditures of
intervention (subsidies, social benefits,
etc) (+€6 .1bn) . In particular, following
revaluation in December 2018, the
cost
of
the
employment
bonus
increased by €4bn in 2019 . Employee
costs also increased relatively sharply
(+€2bn), despite the decrease in state
personnel, for the first time since 2015 .
Evolution of general budget expenditure between 2018 and 2019 (€bn)
Source: Government Audit Office (data from the budget directorate)
- 1 %
0 %
1 %
2 %
1,7 %
0,9 %
3 %
4 %
Personnel (including special accounts for pensions)
Excluding personnel
2015/2014
evolution
2016/2015
evolution
2017/2016
evolution
2018/2017
evolution
2019/2018
evolution
3,4 %
0,4 %
2,2 %
320
315
325
330
329,7
- 0,9
6,1
2,0
0,4
336,1
- 1,2
335
340
Scope measures
expenditures of intervention
Payroll
Debt burden
Other
2018 budget outturn
2019 budget outturn
19
Summary of the report on the national buget in 2019
Apart from the general budget itself,
this year the Government Audit Office
wished to extend its analysis to all
financial resources allocated to public
policies by the State . This includes all
annex budgets and special accounts,
allocated
taxes
and
duties,
fiscal
expenditure and funds without legal
personality .
State resources at the service of public policies
Source: Audit Office
NB: General budget expenditure includes credit opened for fonds de concours
and attributions de produits.
The examination of resources other
than general budget credit shows
that
they
do
not
systematically
benefit from the same attention . Their
assessment and simplification should
be continued .
Beyond the general budget,
state financial resources require
increased supervision
4
General budget
€336.1bn
Annex budgets: €2.3bn
Special
accounts:
€19.5bn
Net budget expenditure
(€357.9bn)
Other resources
(€129.6bn)
Fiscal
expenditure:
€99.4bn
Allocated
taxes and duties*:
€30.2bn
Funds with no
legal personality** (N/A)
*
Taxes and duties allocated to third parties other than territorial authorities and social
security entities
** This box is not proportional to the financial issues.
20
Summary of the report on the national buget in 2019
Beyond the general budget, state financial
resources require increased supervision
Annex budgets and special
accounts: expenditure
partially excluded
from norms
The operations of annex budgets
and
special
accounts
(€21 .8bn,
excluding
double
accounts
with
the general budget) are related to
state expenditure and significantly
contribute
to
the
deployment
of
certain public policies . Although the
information about them is globally
satisfactory, a significant part of them
(36 .9%, i .e . €8bn in 2019) are excluded
from any expenditure norm, whether it
be within the scope of steerable state
expenditure or within the broader
scope of the objective of total state
expenditure (Odete) .
Expenditure of annex budgets and special accounts under norms in 2019 (in €bn)
Odete: Objective for total state expenditure.
Source: Government Audit Office (data from the budget directorate). Data excluding special
accounts whose expenditures are not related to state expenditure.
Allocated taxes and duties:
financial resources less
controlled than budget
expenditure
In 2019, around 150 taxations of all
types were allocated to third parties
(other
than
territorial
authorities
and social security entities), for a
total
amount
of
€30 .2bn .
These
financial
resources
are
not voted
by
the
parliament
and
are
not
monitored within the state budget,
which obscures the readability of the
resources devoted to public policies .
Nevertheless,
the
supervision,
via
capping, of taxes allocated to state
operators has progressed: the capped
part increased from 29% in 2012 to
73% in 2019 .
11,1
2,6
8,0
Steerable norm
Odete excluding steerable norms
Excluded from expenditure norms
Odete
21
Summary of the report on the national buget in 2019
Beyond the general budget, state financial
resources require increased supervision
Fiscal expenditure: insufficient
supervision
Assessed at €99 .4bn in 2019, the
amount of fiscal expenditure has
regularly increased: it has progressed
by
11 .2%
since
2013
(excluding
CICE) . Despite the importance of
its cost, fiscal expenditure is not
subject to coherent overall steering;
its articulation with the public policy
objectives to which it is supposed
to contribute is not always ensured .
Moreover, it is the subject of very
insufficient supervision: the caps in the
last two public finance programming
laws are inoperative, their calculations
are often faulty and comprise very few
assessments .
Cost of fiscal expenditure over the 2013-2019 period (in €bn)
Source: PLF for the years 2013 to 2020, reprocessed by the
Government Audit Office
* PLF data for 2020
A re-examination of funds
with no legal personality
to be undertaken
The management of public policies
via funds with no legal personality
(financial vehicles controlled by the
State, the
management
of which
is entrusted to third parties) can
be criticised in several respects: it
forms a derogation to the principle
of budgetary globality; it removes
public
action
from
parliamentary
or administrative control; in certain
cases
it
escapes
from
any
type
of
monitoring .
The
objective
of
systematic re-examination and the
rationalisation of these funds by the
administration must be implemented .
72,1
71,9
72,7
74,7
77,7
79,6
80,2
6,4
12,4
12,9
15,7
19,4
19,2
2013
2014
2015
2016
2017
2018
2019*
Cost of fiscal expenditure excluding CICE
Cost of the CICE
0
20
40
60
80
100
120
23
Summary of the report on the national buget in 2019
Following the examination of the
2019 budget outturn, the Govern-
ment Audit Office formulates 10 re-
commendations, including three new
ones, to improve the information
provided to parliament and citizens .
On results
1.
Modify the presentation of the
balance
of
resources
and
costs
table in the budget act, deducting
from gross state fiscal revenue only
repayments and relief concerning
state taxes, for the determination of
net fiscal revenue (recommendation
renewed) .
On revenue
2.
Present, in a budget document
(budget review, means and resources
annex
to
the
budget
act),
the
evolution of tax revenue for the past
year by breaking it down between
spontaneous
evolution
and
new
measures, specifying the impact of
each of these measures (restated
recommendation) .
On the financial resources of state
policies other than general budget
credits
3.
For each of the annex budgets and
special accounts, examine whether
the
nature
of
these
expenses
requires a derogation to common
law
budgetary
and
accounting
regulations and draw conclusions
concerning its scope, its merger
with
another
annex
budget
or
special account or its reintegration
within the general budget (new
recommendation) .
4.
Reinforce
the
supervision
of
allocated taxation by strengthening
constraints on the creation of new
allocated taxes, by capping them,
and
scheduling
the
regular
re-
examination of their allocation by
parliament (new recommendation) .
5.
In default of other sources of
information enabling its calculation,
plan a declaration obligation for
each new fiscal expense concerning
income tax and corporate tax (new
recommendation) .
6.
Deploy the programme to assess
the
efficacy
and
efficiency
of
fiscal expenditure over the period
remaining
until
2022
(restated
recommendation) .
7.
Similar to the budgeting charter
that applies to budget expenditure
under
norm,
formalise
precise
regulations to define or modify the
scope of fiscal expenditure subject
to the public finance programming
law cap (renewed recommendation) .
8.
Complete the budget documents
specifying the objectives to which
the fiscal expenditure attached to
each programme contribute, and
accompany the most significant of
these with performance indicators
(renewed recommendation) .
Recommendations
24
Recommendations
Summary of the report on the national buget in 2019
9.
Carry out a global review of all
funds
with
no
legal
personality
controlled by the State and perform,
by 31 December 2022, one of the
following rectifications:
- removal or extinction of the
funds that have no further reason for
existence or whose objectives can be
reached by other means;
- return
of
revenue
and
expenditure to the general budget,
using, if necessary and if the legal
conditions are met, the mechanisms
of allocation provided for by the
Constitutional
Bylaw
on
Budget
Acts and by placing the delegated
management, if maintained, within
the
framework
of
an
agency
agreement;
- in default of this, the transfer of
the mission to an existing operator to
manage it under their responsibility
and
which
incorporates
the
operations and resources allocated
in its own budgets, accounts and
activity
reports,
individualising
them
if
applicable
(renewed
recommendation) .
10.
Replace the fund for innovation
and industry by a support mechanism
included
in
the
general
budget
(renewed recommendation) .