New French government will help business, says Valls

Now Reading:

New French government will help business, says Valls

New French government will help business, says Valls
Text size Aa Aa

The line-up of the new French government has been announced as President Hollande sets about reasserting his authority over economic policy.

Out go economy minister, Arnaud Montebourg, and other left-wing ministers who had spoken out against austerity and called for an economic U-turn.

The new economy minister is seen as distinctly pro-business. Emmanuel Macron, 36, is a former merchant banker and presidential adviser.

Prime Minister Manuel Valls told French TV news: “We continue to agree on the fact that we must help companies – big companies which represent France throughout the world, but also small and medium sized firms, tradesmen, the social economy, start-ups: places where the overwhelming majority of our fellow citizens work and where wealth is created. Without our companies’ wealth there is no job creation.”

Benoît Hamon and Aurélie Filippetti also leave the government – replaced by Najat Vallaud-Belkacem as Education Minister while Fleur Pellerin takes on the role of Culture Minister.

Valls added that he would call a vote of confidence in parliament for September or October. It could be a calculated gamble designed to head off any potential rebellion from the disgruntled left.

MPs are due to examine the new budget and other reforms.

Europe is also watching. The new government will want to convince Brussels that its growth-boosting measures are within EU rules.

The second change of government since François Hollande took office is being seen as the last chance to save his unpopular presidency.