France’s Le Pen unveils economic platform stuffed with cuts — but few new ideas
The far-right leader is trying to reassure markets worried about France’s dire fiscal outlook with her €140 billion savings plan, but this new plan looks a lot like her old plan.
On Tuesday, far-right presidential candidate Marine Le Pen unveiled her economic platform, promising €140 billion in net savings over a five-year term if elected president. Le Pen's proposals included curbing immigration, reducing France's contributions to the European Union, and slashing administrative red tape. She warned that failure to choose a political shift would lead France toward default.
The National Rally party president, Jordan Bardella, defended Le Pen alongside her, denying accusations of antisemitic remarks and emphasizing the need for a responsible steward of the French economy. Le Pen aimed to position herself as a solution to France's debt crisis and stagnating growth. Her plan to cut €19.5 billion from EU contributions has sparked a potential showdown with Brussels.
The proposed €11.1 billion cut in France's gross contribution to the bloc would be implemented in 2027. Le Pen emphasized that slashing immigration would save €15 billion in the first year and €14 billion in the second, while reorganizing social security would bring in €36.7 billion over five years. She also proposed a fiscal "golden rule" requiring governments to progressively reduce public debt as a share of GDP to 60% of its current level.
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