Emmanuel Macron has sought redemption in his appearance in front of the media this Wednesday. In his effort to lay down foundations and present future challenges, the President of France has managed to highlight the most important points within the national economic sphere. With just over two weeks until the legislative elections, Macron has used his half-hour presentation to strengthen achievements and forecasts in the face of the imminent need for a Renaissance of his own party, which bears this challenging name in these circumstances.
Ecological and economic ambition
The French president has highlighted his commitment to nuclear energy by announcing the “opening of eight new indispensable nuclear reactors.” In his speech, he did not hesitate to criticize “the far right and the right aligning with the far right” for abandoning the ecological project, as well as “the far left” for its “completely unreasonable tax policy.” According to the president, it is essential to maintain an “ecological and economic ambition.”
This, of course, also has its fiscal implications. Emmanuel Macron has stated that he advocates for the need to improve conditions in the energy sector: “We must continue to lift the regulatory and fiscal restrictions that weigh on those who want to take initiatives and, therefore, strengthen simplification,” the president said. By advocating for both nuclear energy and other energy sources, Macron seeks to ensure the future of French power while facing the current increase in gas prices, estimated at 11.7% compared to the previous month.
“Pensions will be indexed to inflation”
EMMANUEL MACRON, PRESIDENT OF FRANCE
After stating that “we live longer, therefore, it is necessary to work a little longer,” Macron reiterated that adjusting pensions to the inflation level is unquestionable. Regarding pensions, the head of state referred to the criticism he has not stopped receiving since his respective reform was approved on April 15 of last year. He assures that this policy is necessary.
Thanks to it, “the pensions of people receiving lower pensions have been increased and the pensions of agricultural sectors have been improved.” In addition, he described the solution to the extremes as simple and not compensatory towards any of the sectors: “Some make workers poorer, and others make retirees poorer.” With this, the president accuses “the far-left blocks” and “the far-right” of bankrupting the pension system with their idea of dismantling his policy.
“It’s not fiscal stability, but tax cuts”
EMMANUEL MACRON, PRESIDENT OF FRANCE
On budgetary and financial uncertainty, Macron has been concise. The president stated that what we have been doing for seven years is “reducing taxes.” He emphasized: “For seven years, there has been a majority that has eliminated the housing tax, and the audiovisual fee, which has reduced taxes by 30,000 million for our compatriots.”
Emmanuel Macron also clarified his fiscal intentions for the future. Despite the recent financial market crash two days ago, he assured that his policies are the right ones for France to take the right path in adjusting its accounts without harming its citizens. Nevertheless, he did not clarify his intentions regarding the increase in the interest rate on OATs for maintaining public financing from foreign capital.
Labor market reform
The “unemployment insurance” is “a reform that is important for the country, which is essential. The proposal to tighten access conditions to unemployment benefits aims to save the public system between 4,000 and 5,400 million euros per year, according to Unédic estimates. Emmanuel Macron has stated that this reform is “good,” he understands its “importance for the country,” and above all, it represents a “fight against inactivity” with the aim of “a full employment society.”
The president also pointed out that efforts are already being seen in many other sectors that ensure the employability of workers in the industrial and agricultural sectors: “In the last seven years, more than two million jobs have been created, starting to reindustrialize the country, defending its independence, strengthening its agricultural and industrial sovereignty.”
Purchasing power
As the last point highlighted in his economic attack plan, Emmanuel Macron has paid attention to concerns about the purchasing power issue in the country. In this regard, he stated that “work should be better paid.” He said that income from work and wealth should be “shared better.” In particular, he agreed to expand bonuses, without charges or taxes, to self-employed workers. He also said that he advocates for “reopening the big issue of unwanted part-time work for jobs paid below the minimum wage,” as there have never been so many employees with the minimum wage.
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