It’s in an interview with the newspaper West France that François-Noël Buffet, the resigning Minister for Overseas Territories, announced that the protocol aimed at combating the high cost of living in Martinique was “suspended” due to the censorship imposed on the government. He also mentioned the suspension of funding of one billion euros intended for New Caledonia.
“Since this has not been adopted, it will not apply”
The Minister for Overseas Territories specified that the 20% reduction planned for the 6,000 products affected by this protocol could not be applied from January 1, 2025, as initially planned. The other flagship measure, which consists of the elimination or reduction of VAT, cannot be implemented either, because it was not voted on by Parliament.
The minister expressed his concerns about the consequences of this suspension for the populations of the territories concerned, and stressed that this risked adding anxiety and stress in regions already experiencing economic difficulties.
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“We have nothing, let’s tell it like it is”
The high cost of living protocol was signed on October 16 after several weeks of mobilization in Martinique, initiated by a movement against the high cost of living which degenerated into violence. During these demonstrations, the authorities reported more than 230 vehicles burned and numerous businesses vandalized or looted.
Concerning New Caledonia, François-Noël Buffet expressed serious concerns following the riots which shook the territory last May and which left thirteen dead and caused material damage estimated at more than 2 billion euros. He deplored that, in the absence of a voted budget, the promised aid, in particular the billion euros for reconstruction, could not be released. “For the moment, everything is on hold,” he lamented.
Emergency measures for the end of the year
Although emergency measures were taken for the end of the year, the minister warned that aid for 2024 would be insufficient to face the financial difficulties of 2025.
François-Noël Buffet finally clarified that, thanks to a reversal of the parliamentary calendar, the 2024 management law could be passed, which guarantees funding for this year in New Caledonia, but only for a limited period.
