Economist Podcasts Back to the future-planning: France
Sep 4, 2020
Sophie Petter, Paris bureau chief, offers insights into France's ambitious 100 billion euro recovery plan, mixing historical lessons with contemporary needs. She discusses President Macron's balancing act between immediate recovery and upcoming elections. Michaela Rong, The Economist’s correspondent in Rwanda, sheds light on the controversial arrest of Paul Rusesabagina, illuminating the dire situation for dissent in Rwanda. They also explore intriguing disparities in diaper prices across Europe, questioning the integrity of the single market.
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France's Dual Approach
- France announced a €100 billion stimulus plan, one of Europe's largest, to combat the COVID-19 recession.
- It also created a commissioner to oversee long-term economic planning for 2030.
Stimulus Plan Details
- The stimulus aims to keep businesses afloat, preserve jobs, and kickstart the economy.
- It includes two years of extended furlough schemes, tax cuts for businesses, and a pledge to avoid tax hikes.
Long-Term Aims
- Macron aims to use the crisis as an opportunity to redirect public spending towards green initiatives and skills development.
- Unlike Germany, which focused on consumer spending, France prioritizes investment in skills and industries due to preserved consumer incomes.