Etienne Meyer-Vacherand
in Paris
Published on June 19, 2024 at 10:14 p.m.
Whether that of the National Rally (RN) or that of the New Popular Front, the programs put forward for the legislative elections arouse concern in French economic circles. On the side of the main unions, calls to vote against the far right have multiplied. The CFDT, France’s leading trade union organization, particularly criticizes the RN’s idea of an exemption from employer contributions for companies which would increase salaries by 10%, which it considers ineffective. For its part, the CGT called on Tuesday to vote for the New Popular Front. A break with the tradition of unions not to speak out for a party to guarantee their independence.
On the side of employers’ organizations, it is the measures which could lead to an increase in public spending which are causing concern. Without citing parties, the Medef (French Business Movement) calls for “reducing public debt and deficits without hampering growth by setting a public spending objective” and considers that “economic measures contrary to these objectives (return to retirement at 60 or 62, automatic indexation of salaries to inflation, nationalization of highways, etc.) […] will inevitably result in a further deterioration of our public finances.” The Confederation of Small and Medium Enterprises specifically targeted the New Popular Front, describing as “the most dangerous utopia” the proposals for returning to retirement at 60 and the introduction of 32 hours in certain professions.
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