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French presidential candidates outline economic intentions


French presidential candidates outline economic intentions

The economy came under the microscope in the French presidential election as the candidates outlined their programmes.

Under fire Conservative François Fillon offers the most business-friendly economic platform of all the candidates.

He wants an end to the French brain drain and demands flexibility to create new businesses in France.

He intends to scrap the limit on weekly working hours, extend the retirement age and cut unemployment benefits and the civil service.

Far-right candidate Marine Le Pen has sought to reassure voters that her plan to shed the euro would not lead to catastrophe.

If elected Le Pen says the government would take control of the central bank scrapping the 1973 law and the subsequent European treaties that ensure central bank independence.

She tweeted her desire for the banks to finance small businesses and enforce payment deadlines.

Le Pen will use the Bank of France to create money.

The new French franc will then finance benefits, industrial stratergy and repay debt.

Centre-left candidate, the former investment banker and economic minister,
Emmanuel Macron,believes in a Nordic-style economy, which combines fiscal discipline with a public spending programme.

His desire is to create a new growth model, sustainable, green with increased social mobility.

He tweeted that France must not block innovation and people should be protected through training and not jobs.

He has announced that he would cut 120,000 civil service jobs while reinvesting €50bn of savings into the economy.

The money will be spent on retraining for the unemployed and the shift to an environmentally friendly economy.

Left winger Benoît Hamon, on a visit to Berlin, rests his economic platform on
the universal income concept.

That is the state pays all a basic monthly income, in this case €750 a month.

Hamon tweeted he had informed German chancellor Angela Merkel of his rejection of austerity and his defence and energy plans.

Hamon believes the universal income concept is transparent and simple with a lower overall cost than that of the current means-tested social welfare benefits.

Jean-Luc Mélenchon is the hard-left candidate he is looking to the disenchanted for support.

He believes that the country needs to tear up the constitution and introduce a new one.

He wants a minimum wage of €1,300 a month and 100 percent taxation on those earning €33,000 a month.

He tweeted his desire to increase the minimum wage to allow the citizens of France to “live well.”

Whoever wins changes are a foot for the French economy.