Key facts
- Marine Le Pen is balancing populist promises with fiscal discipline in her presidential campaign.
- She aims to allow retirement at 62 and cut approximately €125 billion in spending.
- France's public debt is at 117.5% of GDP, with a budget deficit above EU limits.
- François Durvye, a fiscal hawk and economic adviser, has left Le Pen's campaign.
- Polls indicate Le Pen is the front-runner for the French presidency.
Marine Le Pen, the far-right presidential front-runner in France, is navigating a delicate economic strategy as she seeks to broaden her appeal beyond her core supporters. While promising ambitious cost-cutting measures and a return to a retirement age of 62, she faces skepticism from fiscal conservatives and business leaders regarding the feasibility of her plans.
Le Pen has stated her intention to adhere to a 'golden rule' for budget deficits, keeping them below the European Union's 3 percent limit, and plans to reduce spending by approximately €125 billion. However, the specifics of how these savings will be achieved remain unclear, leading rivals like Bruno Retailleau to criticize her economic proposals.
The campaign has also seen internal tensions, highlighted by the departure of François Durvye, a key economic adviser who advocated for greater fiscal discipline and had worked to build bridges with the business community. Durvye reportedly felt unable to defend the party's latest positions to his contacts.
Despite these challenges, polls suggest Le Pen is leading in the first round of the presidential election, with a significant portion of respondents expressing trust in her economic policies. However, this trust is largely concentrated among her base, with centrist voters remaining more skeptical, a dynamic that could prove crucial in a potential runoff election.