Solar panel roof installation

The Big Investment Plan 2018-2022

The Government has embarked on a Big Investment Plan worth 57 billion euros, which will be implemented throughout the current five-year term to support structural reforms and respond to four major challenges facing France: carbon neutrality, access to employment, competitiveness through innovation and the Digital State.
 
WHAT DOES THIS INVOLVE?

The Big Investment Plan (GPI) is based on four priorities: accelerating ecological transition (20 billion euros), building a skilled society (15 billion euros), securing competitiveness through innovation (13 billion euros) and creating the Digital State (9 billion euros).
 
For these four priorities, funding will be allocated as follows:

1. Accelerating ecological transition

  • 9 billion euros to improve the energy efficiency of housing for low-income households and public buildings. Buildings account for 20% of greenhouse gas emissions;
  • 4 billion euros to improve the daily mobility of French people, since transport accounts for a third of greenhouse gas emissions or fine particles;
  • 7 billion euros to finance a 70% increase in the renewable energy production capacity. The aim is to accelerate ecological transition (for example through smart and sustainable city projects and developing alternative energy sources) and to finance initiatives to change the behaviour of individuals and businesses.

2.Increasing skills and employment

The objectives of the GPI in this area are to:
  • train and assist two million low-skilled people in finding employment in order to provide a concrete response to unemployment among the least skilled workers, for whom the unemployment rate is 18%;
  • fund experiments in national education and support changes at undergraduate level, in order to improve the initial training of young people, their guidance at sixth-form college and at university and their professional integration.

3.Strengthening innovation and competitiveness

  • 3.5 billion euros to support French scientific excellence. The priority is to shore up the emergence of large, world-class, integrated universities, energising the entire system of higher education and research;
  • 4.6 billion euros to improve business innovation, which is at the heart of French competitiveness. The Big Investment Plan will encourage risk-taking in the sectors of tomorrow, such as artificial intelligence, the use of mega data, nanotechnology and cyber security;
  • 5 billion euros could be invested to accelerate the adaptation of tools and changes in agricultural practices, fishing, agri-food and the forest-timber sector, which are all key sectors.

4. Building the Digital State

  • 4.4 billion euros to increase the agility of the State and improve the quality and accessibility of public services. The Big Investment Plan aims to make 100% of public services electronic (excluding the issuance of identity cards) and must lead to a lasting reduction in public spending by 2022;
  • 4.9 billion euros to accelerate the digitisation of the health and social cohesion systems. The aim is to develop multidisciplinary health centres in areas where there is a shortage of doctors, modernise hospital equipment and support medical research.

The Big Investment Plan will not increase the public deficit

It will be funded through various channels:
  • loans, equity or guarantee funds (11 billion euros), with an exceptional mobilisation by the Caisse des Dépôts et Consignations (State-owned financial institution which carries out public interest missions on behalf of French central, regional and local authorities);
  • the activation or redirecting of existing investments (12 billion euros);
  • new fiscal measures (24 billion euros).
Finally, the GPI will finance the Investments for the Future 3 Programme (10 billion euros), for which the priorities have been established but not yet financed.
 
WHY?
The Government is implementing structural reforms in response to four significant challenges: the move towards carbon neutrality, improving access to employment, boosting competitiveness through innovation and inventing the State of the digital age.
 
Supporting these reforms through investment is to ensure their effectiveness in giving jobseekers the skills they lack to enable them to find work, in making it possible for low-income households to insulate their homes thereby reducing their energy consumption, and in accelerating the move towards digital technology in public hospitals.
 
Having a Big Plan allows for a clear global approach while transforming the State investor function: selected according to strict criteria for achieving explicit transformation objectives, the investments will be put in place, monitored and evaluated in order to understand their real impact and allow them to be boosted or reduced according to how beneficial they are.
 

ACTION TAKEN
25 September 2017: submission of the Pisani-Ferry report and detailed presentation of the Big Investment Plan by the Prime Minister
 
4 July 2017: announcement of the Big Investment Plan by the Prime Minister during his General Policy Statement