But how will he pay for his latest promises?
ONLY IN FRANCE, perhaps, would the response to a social rebellion have been a three-month-long national conversation. At the Elysée Palace on April 25th, Emmanuel Macron at last presented the conclusions to his “great national debate”, which has taken him on a town-hall tour of the country and involved 2m responses from ordinary citizens.
Faced with a protest movement that began as a tax rebellion, Mr Macron also promised to lower the tax burden “substantially”. France currently levies a greater share of taxes—48.4% of GDP—than any other country in the European Union. He pledged to make €5bn of income-tax cuts, to be financed, or so he promised, by spending cuts and the closing of corporate-tax loopholes.
Mr Macron’s announcements left plenty of unanswered questions, most notably how he will finance the extra tax cuts and spending promises. His earlier measures, themselves costing €10bn, have already pushed up the government’s budget deficit to just over the 3% limit imposed by EU rules. Mr Macron did make it clear that the French would have to work longer over their lifetimes in order to finance pensions.
France Dernières Nouvelles, France Actualités
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