Salaries of bosses: Fillon drafts his decree

85% of the French want to cap the remuneration of entrepreneurs who have benefited from state aid.

Massive and unanimous. Whether by law or decree, the future regulation on the ceiling of remuneration of bosses is plebiscite by the French. 85% of those interviewed by OpinionWay for Le Figaro and LCI demand a law for entrepreneurs who have benefited from state aid. This massive support crosses all the political currents: 78% among the voters of Nicolas Sarkozy, 84% among those of François Bayrou and even 91% among those of Ségolène Royal.

By opting for binding legislation under the pressure of public opinion exasperated by the excesses of some entrepreneurs (Valeo, Societe Generale?), Nicolas Sarkozy rallied the opinion of the greatest number. Difficult for him to stick to the only respect for the code of ethics of Medef when it is floated in large widths by some of its members. François Fillon reminded him yesterday to Laurence Parisot, the president of Medef, received at Matignon late afternoon. A meeting not inscribed on the Prime Minister’s agenda.

The case is heard. François Fillon has decided “definitively”, insists his entourage, the question of the ceiling of remunerations. The decision was finalized when he returned at midday from his trip to Marseille. The Prime Minister will publish next week – around 1 April – a decree setting a ceiling on the remuneration of CEOs benefiting from state aid. Matignon is determined “to do very fast and simple”. Understood: there is no question of going under the Caudine forks of Parliament. In addition to the fact that the use of the law would inevitably lengthen the implementation of this much-awaited provision, this would pave the way for a merry “Lépine contest” on the best way to regulate the salaries of bosses. We imagine, without evil, the left to give heart to joy!

Beginning of imbroglio

In accordance with the instructions of the president before his departure in Africa, François Fillon decided to go ahead, despite the legal ambiguity raised by the Secretary General of the Elysee. Speaking to the Vigilant Club yesterday, a think tank, Claude Guéant sowed doubt about the government’s intentions. “If after legal expertise, it is not possible to make a decree, then there will be an amendment to the rectifying finance law,” said Sarkozy’s right-hand man. This sentence was enough to trigger a beginning of imbroglio.

Already Thursday, François Fillon had not appreciated that Claude Guéant grills him the politeness by confirming on France 24 the next publication of a decree. Yesterday, the Prime Minister hastened to put an end to this legal debate between the Élysée and Matignon. It remains now for the Prime Minister and especially the General Secretariat of the Government to draft the decree in such a way that the text targets only companies benefiting from State aid. An adviser warns: “Let’s be careful that this decree does not lead to a wage ceiling for all bosses.”

Continue Reading