Bad news for the 55 million savers who opted for Livret A. The Council of State has delivered its verdict concerning the appeal filed by law professor Paul Cassia for the cancellation of the freezing of the rate of remuneration for this product savings.
It was in July 2023 that the Minister of the Economy, Bruno Le Maire, announced the reduction and freezing of the Livret A rate at 3% until 2025. A highly contested decision, in particular by the professor of Panthéon-Sorbonne University Paul Cassia, who had filed an appeal for the annulment of the decree of July 28.
“ I contacted the Council of State (aff. 475953) of the decision of Bruno Le Maire to maintain the rate of the A booklet, in order to verify whether: ‘exceptional circumstances’ make it possible not to increase this rate to 4.1%; this rate can be frozen for 18 months », he wrote last August on his X account.
The Council of State rejects the thawing of the Livret A rate
Monday February 19, the Council of State, which looked into the matter, rejected the appeal filed by the law professor, indicates Agence France-Presse. A decision confirmed by Panthéon-Sorbonne University professor Paul Cassia: “ Freezing of the Livret A rate at 3% until January 31, 2025: on February 19, 2024, the Council of State rejects my request for annulment of the decision of Bruno Le Maire and the Banque de France, in view of ‘ exceptional circumstances’ existing on August 28, 2013 and continuing today », he wrote on his X account.
Thus, the Council of State validates the argument put forward by Bruno Le Maire who followed the recommendations of the Banque de France. This institution had estimated, as a reminder, that a “ too high a rate, while regulated savings have no equivalent among our European neighbors, would be detrimental to our economic activity and growth “.
This verdict therefore sounds like bad news for the many holders of a Livret A, which is undeniably one of the French people’s favorite savings products. By applying the calculation formula which takes into account the evolution of inflation in particular, the Livret A rate should have reached 4.10% in 2024. But with the decision of the Council of State, the rate of remuneration will indeed be and well maintained at 3% until 2025.