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Free AccessLeftist NFP Set Out Econ Plans, Still No Agreement On PM Candidate
The left-wing New Popular Front (NFP) alliance is setting out its plans for the economy, including how much said plans will cost and how revenue will be raised, at a presser in Paris. Speaking to the centre-right Le Figaro on 20 June, Jean-Luc Melenchon from the left-wing La France Insoumise (LFI), which sits in the NFP, claimed that "According to our party's calculations, within five years, there will be a total of 200 billion euros in public spending and 230 billion in revenue for the State. How ? By a boost to [economic] activity."
- Le Monde reports comments from Socialst Party (PS) Senator Alexandre Ouizille, who listed the following as key aims of the NFP should it form the next gov't: "repeal of the pension reform and repeal of the unemployment insurance reform” ; “increase in the minimum wage to €1,600, [i.e.] an increase of 14%” , and “an increase in [salaries] of 10%” for civil servants. “We will increase housing aid by 10%” [...] The cost of these measures is 25 billion euros for the year 2024” continued the senator. “We [will] immediately [reintroduce] an ISF [wealth tax] with a climate component of 15 billion euros,” he continued."
- With the NFP polling in second place behind the right-wing National Rally, the alliance has yet to settle on a PM candidate. Melenchon is the most well-known figure in the group, but is a divisive figure. Some centre-left PS deputies and candidates have said they would not back a Melenchon premiership.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.