Total financial assets amounted to 1.43 billion euros. The amount is listed on page 165 of the Senate’s annual accounts report. And this is still at book value, the investment is worth 400 million euros more on the market. A “money” whose interests allow the Senate to fill the deficit of the pension program of former senators and civil servants: in 2024, contributions cover only 35% of the 110.7 million euros paid to 1,972 pensioners. Over ten years, the cumulative deficit reached 571 million euros, and got worse over time, according to our calculations. At the same time, financial income from investments amounted to 511 million euros.
That public authorities have such large reserves is an anomaly: institutions should not resort to austerity, especially when public debt exceeds 3,400 billion euros. Former left-wing lawmaker René Dosière, president of the Public Ethics Observatory, stated categorically: “The role of the Assembly is not to put public money into financial investments! They just need to have a quarter in advance to deal with unforeseen events.” Especially since the annual allocation from the State allows them to cover all their costs, with two advantages compared to ministries: the Assembly gets the amount they ask for, and it is all paid to them at once, at the beginning of January.
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