The Caisse des Dépôts et Consignations, which manages the Livret A, has just communicated the figures. Sure enough, net inflows (the difference between money deposits and withdrawals) amounted to 1.15 billion euros last month. This is less than the $ 2 billion set aside in the same period a year ago.
In June, the fundraising had been nil. The deconfinement and the acceleration of vaccination had led to an increase in consumption, and therefore a logical decrease in savings. In July, investments started to rise again but in reasonable proportions, proof that, contrary to what economists predicted, small savers will not tap into their so-called “Covid” savings. This can be interpreted as a return of confidence.
The Livret A, which is used to finance social housing, has always been considered a safe haven despite its low rate of remuneration: 0.5% today. But it is not taxable. We do not pay taxes on these savings, which is rather encouraging.
55 million of the 67 million French people have a Livret A. But not everyone is equal when it comes to so-called precautionary savings. According to the Economic Analysis Council, since the start of the pandemic, the 10% of the poorest households have taken on more debt than they have managed to save. Anyway, to date, the total money stored in the A and Sustainable Development passbooks amounts to 470.5 billion euros, up 7% over one year.