French business leaders are expressing concerns about the economic policies of political parties ahead of the upcoming snap parliamentary elections. This sentiment was highlighted during a high-profile event organised by MEDEF, France’s leading employers’ federation, where prominent politicians presented their economic programs. For the first time, Éric Ciotti and Jordan Bardella appeared together at the event, aiming to reassure employers about their economic agendas. RN’s proposal to reverse pension reform has particularly unsettled many business leaders. The company chairman described RN’s budget plans as “completely unbalanced.” Meanwhile, the left-wing coalition, represented by Boris Vallaud, called for increased solidarity from employers.
Édouard Philippe and Bruno Le Maire, from President Emmanuel Macron’s centrist alliance, stressed a pro-business approach and warned against the economic policies of their opponents. Amid the political uncertainty, business leaders like Charles Le Goff have adopted a cautious approach, freezing investments and pausing hiring. Another business owner, involved in the aeronautics industry, has taken out a loan to prepare for potential challenges, doubting the feasibility of the RN and left-wing promises. The election, set for June 30 and July 7, follows Macron’s decision to dissolve the National Assembly after the RN’s strong performance in European elections. The latest polls indicate the RN leading with 34%, followed by the left-wing Popular Front at 29%, and Macron’s Together coalition at 22%. Bardella, addressing MEDEF, promised an audit of public finances and a revised budget for 2024, including tax cuts for companies. He also called for reduced EU spending and curbing fiscal loopholes.
Left-wing representatives like Eric Coquerel of France Unbowed argued that increased spending would be balanced by economic growth and higher taxes on the wealthy. Despite these assurances, many employers remain unconvinced. Sophie de Menton, head of Mouvement Ethic, stated that none of the party’s proposals provided reassurance. Prime Minister Gabriel Attal pledged to lower power bills, adjust inheritance tax and link pensions to inflation if the Macron alliance retained power. He confirmed there would be no tax hikes under their administration. Markets have shown some stability after recent fluctuations, but investors remain wary of a high-spending RN-led government or potential legislative gridlock if no party secures an absolute majority. French blue-chip stocks have recovered slightly, but the borrowing cost gap between French and German bonds indicates ongoing caution among investors.
French business leaders express concerns about economic policies proposed by political parties ahead of snap parliamentary elections. Prominent politicians present economic programs at MEDEF event, including far-right National Rally (RN) and centre-right conservatives Les républicains (LR). RN’s proposal to reverse pension reform worries business leaders, while left-wing coalition calls for increased employer solidarity. Macron’s centrist alliance warns against economic policies of opponents, leading to cautious approach from business leaders like Charles Le Goff, who freezes investments. Aeronautics industry business owner doubts feasibility of promises from RN and left-wing. Election set for late June, with RN leading in polls. Bardella promises audit of public finances and tax cuts for companies, while left-wing argues for increased spending balanced by economic growth.
Despite assurances from left-wing representatives like Eric Coquerel of France Unbowed, many employers remain unconvinced of party proposals. Prime Minister Gabriel Attal pledges lower power bills, adjust inheritance tax, and link pensions to inflation under Macron alliance. Market stability post-fluctuations, but investors wary of high-spending RN-led government or legislative gridlock without majority party. French blue-chip stocks recover slightly, but caution remains among investors due to borrowing cost gap between French and German bonds. Business leaders like Sophie de Menton of Mouvement Ethic find no reassurance in any party’s proposals, highlighting ongoing economic uncertainty. French companies cautious in investments and hiring amid political and economic concerns.
French business leaders express concerns about economic policies proposed by political parties ahead of snap parliamentary elections. Prominent politicians present economic programs at MEDEF event, including far-right National Rally (RN) and centre-right conservatives Les républicains (LR). RN’s proposal to reverse pension reform worries business leaders, while left-wing coalition calls for increased employer solidarity. Macron’s centrist alliance warns against economic policies of opponents, leading to cautious approach from business leaders like Charles Le Goff, who freezes investments. Aeronautics industry business owner doubts feasibility of promises from RN and left-wing. Election set for late June, with RN leading in polls. Bardella promises audit of public finances and tax cuts for companies, while left-wing argues for increased spending balanced by economic growth.
Despite assurances from left-wing representatives like Eric Coquerel of France Unbowed, many employers remain unconvinced of party proposals. Prime Minister Gabriel Attal pledges lower power bills, adjust inheritance tax, and link pensions to inflation under Macron alliance. Market stability post-fluctuations, but investors wary of high-spending RN-led government or legislative gridlock without majority party. French blue-chip stocks recover slightly, but caution remains among investors due to borrowing cost gap between French and German bonds. Business leaders like Sophie de Menton of Mouvement Ethic find no reassurance in any party’s proposals, highlighting ongoing economic uncertainty. French companies cautious in investments and hiring amid political and economic concerns.
Overall, French business leaders are apprehensive about the economic proposals put forth by political parties ahead of the snap parliamentary elections. The far-right National Rally (RN) and centre-right conservatives Les républicains (LR) have presented their plans at a high-profile event organized by MEDEF, with concerns raised about the potential impact on businesses. The left-wing coalition has also called for increased solidarity from employers, adding to the uncertainty facing the business community. President Emmanuel Macron’s centrist alliance has emphasized a pro-business approach and cautioned against the economic policies of their opponents, urging stability and fiscal responsibility. As the election approaches, business leaders are adopting a cautious stance, with some freezing investments and pausing hiring. Investors are also remaining wary of potential outcomes, with French blue-chip stocks recovering slightly but the borrowing cost gap indicating ongoing caution. The economic landscape in France remains uncertain, with businesses and investors closely monitoring the political developments leading up to the elections.
