Work schedule
| WHEN | WHAT | HOW |
|
September (when a multi-year public finance programming draft bill is tabled by the Government) |
Opinion on the multi-year public finance programming draft bill (years N+1 to N+3 at least) |
Examination of the realism of the potential growth estimate Examination of the realism of macroeconomic forecasts Examination of the consistency of the structural balance trajectory with France's European commitments |
|
September of each year |
Opinion on the draft budget bill and the draft Social Security Financing bill (year N+1) |
Examination of the realism of macroeconomic forecasts for N+1 Examination of the consistency of the structural balance and expenditure target for year N+1 with the path presented in the multi-year public finance programming bill Examination of the realism of public revenue and expenditure forecasts for year N+1 |
|
April |
Opinion on the Stability program transmitted to the EU covering the public finance trajectory for the years N-1 to N+3 at least |
Examination of the realism of macroeconomic forecasts |
|
April |
Opinion on the draft bill on the results and approval of the accounts for the year N-1 |
Identification of any major discrepancies between the actual structural balance and the multi-year structural balance trajectory Examination of compliance of the results achieved with expenditure targets of the multi-year trajectory |
|
At any time during the year, depending on the Government's submission of a draft budget package
|
Opinions on draft amending budget bills, amending social security financing draft bills and end-of-year bills (year N) |
Examination of the realism of macroeconomic forecasts Examination of the realism of revenue and expenditure forecasts Examination of the consistency of the structural balance and expenditure targets for year N with the multi-year trajectory |
|
At any time during the year |
Opinion on draft multi-year sectoral programming bills |
Examination of the compatibility between the provisions impacting public finance set out in the draft sectoral programming bills and the expenditure targets set out in the multi-year public finance programming bill or, failing that, in the introductory article of the last Finance Act |
|
At least once every four years |
Opinion on the draft law relating to the results and approval of the accounts for the year N-1 |
Examination of the differences between the macroeconomic, revenue and expenditure forecasts in draft budget bill and the draft Social Security Financing bill and their actual achievement |
Opinions on the draft multi-year public finance programming bill (September)
When the government prepares a multi-year public finance program, the HCFP issues an opinion, usually in September, on the consistency between the objectives set out in the programming bill and France's commitment to ensuring the structural balance of its public finances over the medium term.
Opinions on the draft budget and Social Security financing bills (September)
When the Government presents a draft budget bill or a draft Social Security Financing bill in September of each year, the HCFP gives its prior opinion on the consistency of these texts with the multi-year structural balance and expenditure trajectory.
It examines whether macroeconomic forecasts are realistic. It also assesses the realism of the public revenue and expenditure forecasts presented by the government.
Opinions on the draft bills relating to the results of management and approval of the accounts for the year N-1 (April)
The HCFP gives its opinion on the draft law on the results of management and approval of the previous year's general government accounts.
It identifies whether there are "significant discrepancies" in relation to the structural balance trajectory defined by the programming law, i.e. representing at least 0.5 points of gross domestic product (GDP) over one year, or at least 0.25 points on average over two consecutive years.
If this is the case, the government must take corrective measures to bring the public accounts back into structural balance.
These measures must be taken in the next budget bill or Social Security financing bill. In its opinion on these bills, the HCFP ensures that the measures presented are likely to achieve the multi-year public finance objectives.
The HCFP also assesses if the annual results achieved are consistent with expenditure targets planned in the multi-year public programming law.
Opinions on stability programs (PSTAB, April)
The HCFP gives its opinion on the realism of the macroeconomic forecasts presented in the stability program submitted each April by the government.
Opinions on draft amending budget bills (during the year) or draft end-of-year budget bills
When the government presents a draft amending budget bill, the HCFP gives its opinion on the realism of the macroeconomic forecasts associated with it and on the realism of revenue and expenditure forecasts. It also examines the consistency of the current year's structural balance target with the multi-year structural balance trajectory.
Opinions on draft sectoral programming bills
The HCFP assesses the compatibility of draft sector-specific programming bills, which set out the evolution of budgetary resources allocated to certain major public policies over several years (e.g. defense or research), with the multi-year spending targets set out in the public finance programming law.