Growth “based on production rather than consumption”: Gabriel Attal unveils his economic program to make France the “leading power in Europe” thanks to “innovation capitalism”

A vast program to make France “the leading power in Europe in the next ten years”. Gabriel Attal unveiled his “economic vision” for the country this Wednesday, promising a “radical” change in model towards “innovation capitalism” which will benefit everyone, in particular through salary increases. Because the Renaissance candidate in the presidential election assures us: if France is becoming poorer relative to its neighbors and especially compared to the United States, it is because “our economic model is running out of steam.

(...) It condemns us to growth, and therefore to low wages." "Shock of simplification" At a time when "a debt crisis is emerging" and where "the loss of confidence of our creditors is hanging over us", the former Prime Minister therefore proposes to redress the situation by taking on an economic program with a "liberal" vision, promoting the "supply-side policy" and centered on innovation.

And for good reason: “Political power depends on economic power which itself depends on technological power,” he said. This project would involve “three major ruptures” which would stimulate growth, he warned. The first would be "institutional" because "we must create a simplified framework that is stable and favorable to growth", which involves in particular "a restoration of public accounts", declared Gabriel Attal, pleading for an "emergency brake of 20 billion euros" on spending from 2027, and a savings plan of 150 billion over the entire five-year term.

For businesses, the candidate wants a real "shock of simplification" by removing "the administrative burden by a quarter" and establishing a "fiscal and normative stability law" over ten years. Another explosive proposal: the replacement of the Labor Code with a “Labor Constitution” which would contain “major principles of a few dozen pages” and would refer “the rest to negotiation in the branches and companies”. The "institutional" rupture would finally involve the founding of the "United States of Europe", a project unveiled months ago and which would aim to deepen European integration by bringing their economies closer together (union of capital markets, convergence of tax rates, major joint industrial projects...

) to make Europe the world’s leading economic power. Growth "based on production rather than consumption" The second break proposed by Gabriel Attal would be "productive": "We must find an economy based on production rather than growth based on consumption and the deficit", he underlined. To achieve this, the one who was Minister of National Education says he wants to focus on "the recovery of schools and higher education" because "we must raise the educational level in France, assuming that it is also an economic issue and not just an educational issue".

The Renaissance candidate also wishes to rely on the abundant savings of Europeans to stimulate productive investment while “300 billion euros of savings go each year to economies outside” the EU. He thus confirmed his desire to develop capitalization, ensuring that by refusing it “we are depriving ourselves of pension funds which invest in French and European companies”. If elected, he also promises a payment of 1.

Machine-translated from French