On Thursday, July 10th, Roland Gillet and Jean-Hervé Lorenzi, founder of the Cercle des Économistes, appeared on the program Les Experts, hosted by Nicolas Doze. The discussion centered on the burden of the French and Belgian tax systems and the urgent need to find a sustainable balance between taxation and mandatory levies on one side, and the control of public spending on the other.

"We are reaching the limits of our policy options."

Roland Gillet emphasized the challenges involved, particularly due to the costly complexity of the administrative structure, where each ministry insists that its expenditures are essential. He also highlighted a damaging habit among European citizens: during crises, governments have approved massive levels of debt, whose interest costs were greatly reduced by central bank policies. By maintaining extremely low interest rates, central banks created the impression that debt was not a real burden. Today, a portion of the public struggles to understand why additional sacrifices are necessary, given that the state has long been able to finance its deficits without immediate visible repercussions. Nevertheless, these excessive expenses come at a high cost.

Roland Gillet further recalled that honoring NATO commitments, particularly concerning military spending, is costly. Acquiring armaments is not a traditional investment but a passive expense aimed at preventing conflict—without a direct return. He questions the price we are willing to pay to stimulate growth. We are at the end of our means: when budget cuts no longer suffice to reduce the deficit, the only remaining solution is increased debt. Every proposed measure to restore fiscal balance is likely to provoke significant opposition and resistance.

Watch the first part of the program Les Experts: "Is France Sick from Its Tax System?"