Opinion published in the Financial Times / Ma tribune parue dans le Financial Times

A lire ci-dessous, ma tribune parue aujourd’hui dans le Financial Times / You can read below my opinion published in the Financial Times.

J’y combats le « French bashing » et souligne les réformes fortes et ambitieuses menées et à venir en matière de compétitivité, de croissance, d’emplois, ou encore de réduction des déficits.


You can be both French and fiscally responsible

By Pierre Moscovici


The doom-mongers are wrong: France is modernising and reforming. But it is doing so in its own way. The country regularly comes under fire from those who want it to conform to an economic and social model that is not its own. They would gladly dismiss, with a stroke of the pen, its history and its culture – what sets it apart, its identity. France is changing but in the French way.

The government is working round the clock to turn the economy round, and it knows that it must speed up the pace. We did think that we would pull out of the crisis faster. We have achieved results but they are still precarious. Our economy is growing again but not fast enough. Unemployment is slowing but it is still too high, and taxes and social security contributions may be hampering long-term growth.

President François Hollande asked us last week to launch a new phase under the rallying cry “faster, further and stronger”.

This is why President François Hollande asked us last week to launch a new phase under the rallying cry “faster, further and stronger”. Building on policy implemented in the past 18 months, it will take the battle for jobs to a new level, with clear objectives in mind: making life easier for businesses, cutting red tape, decreasing public spending and boosting employment.

France will take a multipronged approach to improving things for businesses. By 2017, we will eliminate €30bn in employer contributions for family allowances; business regulations will be radically streamlined; and we have a detailed plan for putting an end to France’s impenetrable and disorienting tax environment.

Moreover, not only is France borrowing at historically low rates, but the government has pledged to cut public spending by €50bn between 2015 and 2017 – in addition to the €15bn in savings scheduled for 2014.

These measures will be enacted with clear timelines. Politically, their legitimacy will be reinforced by a vote of confidence in parliament.

One can be French and take fiscal consolidation seriously. There is no contradiction between being a social democrat and being fully committed to restoring competitiveness.

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