Key facts
- Centrist presidential candidates are promising fiscal restraint and growth-friendly policies.
- Gabriel Attal aims to reduce the budget deficit to 3% of GDP by 2032.
- Edouard Philippe plans to cut the deficit to 2% of GDP by 2032 and introduce constitutional budget rules.
- Marine Le Pen's eligibility for candidacy depends on a court ruling on July 7.
- Business leaders are increasingly engaging with the economic platforms of far-right parties.
Centrist presidential candidates in France are vying to present themselves as the strongest option to prevent a far-right victory in the 2027 election, promising fiscal discipline without hindering economic growth. Business leaders are closely observing these candidates, concerned about the country's public finances and seeking stability for investment.
Gabriel Attal, a former prime minister, has pledged to manage the government like a company and reduce the budget deficit from 5.1% to 3% of GDP by 2032, primarily through welfare spending cuts and pension reforms. Edouard Philippe, another former prime minister, also aims to cut the deficit to 2% by 2032, proposing a constitutional rule for budget discipline and potentially raising the retirement age further. Philippe also committed to dismantling internal EU barriers to business and unifying capital markets.
The far-right National Rally, led by Marine Le Pen and Jordan Bardella, is a significant contender, with Le Pen's eligibility for office pending a court decision on July 7. Hard-left leader Jean-Luc Melenchon is also seen as a potential runoff candidate. Despite past avoidance, business leaders are showing more interest in the economic platforms of far-right parties, acknowledging their progress in economic analysis.
However, neither the National Rally nor Melenchon's party were invited to a recent business gathering in Aix-en-Provence, a decision made by organizers. Experts note that while center-left and center-right candidates largely agree on France's economic challenges, the crowded political center requires candidates to differentiate themselves on resource allocation strategies.