Unions unite against Macron’s pension reform plan

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Prime minister Elisabeth Borne presents proposal which would see retirement age rise to 64 from 2030

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The pension reform is supported by most but not all of the conservative party Les Républicains , which in theory is part of the opposition to Macron. Allowing LR to take credit for broadening the €1,200 rate to all pensioners would be a way of rewarding conservatives for saving the reform. Commentators consider Macron rash to provoke a showdown with the entire left, the far right and trade unions over pensions when the war in Ukraine, high inflation and the rising cost of living have created deep uncertainty about the future. “One wonders what could have possessed the president to take such a risk when the crises that are shaking the country create fear and strengthen the desire to protect advantages already attained,” Françoise Fressoz wrote in Le Monde.

The French electorate send contradictory signals in opinion polls. A majority told an Elabe poll that the present system cannot continue to function. But another majority told pollsters at Odoxa that the government reform is bad. An Ipsos poll showed a majority believes the pension system must balance its budget, while an Ifop poll says the retirement age should be lowered from 62 to 60!

France’s overall debt will soon surpass €3,000 billion. The cost of servicing that debt rose to €51 billion last year. Mr Attal says that without a reform, the debt will rise another €500 billion over the next 25 years, and that it is a question of “reform or bankruptcy”. Other sources give far lower estimates.

 

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