Representatives of the main political blocs defended the broad outlines of their programmes before employers’ organisations on Thursday. Édouard Philippe (Horizons), Boris Vallaud and Eric Coquerel (Nouveau Front Populaire), Jordan Bardella (Rassemblement National), Eric Ciotti (LR-RN), Bruno Le Maire (Ensemble pour la République) and Bruno Retailleau (Les Républicains) took part in this grand oral as spokespersons for their respective parties or coalitions for the legislative elections

The aim was to reassure businesses of their economic commitments and viability. Topics covered included wage increases, the tax burden, public spending, pension reform, housing policy and energy policy.

Wage increases

The Nouveau Front populaire, represented by Boris Vallaud and Eric Coquerel, is proposing a social conference on wages to redistribute part of shareholder income towards labour income, adopting a Keynesian approach.

The Rassemblement National, with Jordan Bardella and Eric Ciotti, criticises low wages and high charges, proposing a pay rise exempt from employers’ contributions of up to 10% for wages up to three times the minimum wage.

Édouard Philippe (Horizons) advocates giving employees a greater stake in the value of the capital created by the company instead of a direct pay rise.

Taxation

Boris Vallaud would like to see increased taxation of multinationals and wealth, while sparing SMEs. Jordan Bardella is calling for the CVAE and C3S to be abolished, and for tax-free overtime to be maintained. Bruno Le Maire (Ensemble pour la République) is also promising to abolish the CVAE by 2027 to support industry. Bruno Retailleau (Les Républicains) is against any increase in taxes, while Édouard Philippe is proposing a fiscal “golden rule” to limit the tax burden and runaway public spending.

Debt and public finances

Édouard Philippe advocates refocusing the State on its core spending in order to put public finances on a sounder footing. Jordan Bardella is proposing an audit of the nation’s accounts and a reduction in social spending linked to immigration. Bruno Le Maire is aiming for a deficit below 3% in 2027, stressing the importance of balancing public accounts. Bruno Retailleau (Les Républicains) insists on debt sustainability and reducing the number of public servants.

Pensions

Édouard Philippe defends increasing the contribution period to balance the pension system, following the example of other European countries. The Rassemblement National does not want to raise the retirement age, favouring long careers. Bruno Le Maire criticises a return to retirement at 62 or 60, supporting indexation of pensions to inflation and a future debate on the financing of the social model.

Energy policy

The Nouveau Front populaire wants to get out of nuclear power without further plant closures and is proposing a reworking of the Grand Carénage programme. Jordan Bardella (RN) wants to renegotiate European rules for setting electricity prices and reduce VAT on energy. Bruno Le Maire defends the construction of six nuclear reactors and complementarity with renewable energies, as well as reopening negotiations with EDF.

Housing

Édouard Philippe criticises the current taxation of housing and proposes a shift to an investment approach. Bruno Le Maire acknowledges that the government has not done enough on housing policy.