crashnitrokart| France will cut unemployment benefits due to rising debt pressure

Date: 4周前 (05-27)View: 12Comments: 0

French Prime Minister Gabriel Attal has unveiled a plan to cut unemployment benefits in Francecrashnitrokartto advance President Emmanuel Macron's economic reforms to get people back into the labor market.

In an interview with the Sunday edition of La Tribune newspaper, Attal said the reform would shorten the maximum duration of benefits from 18 months to 15 months and extend the working hours required to receive benefits. The government hopes the changes will take effect on December 1.

Attal said the changes were not meant to save costs, but to allow more French people to get jobs and thereby fund the welfare system.

An Attal adviser told reporters on Sunday that the policy is expected to gradually reduce spending over the next few years, saving 3.6 billion euros ($3.9 billion) a year and adding 90,000 people to the workforce. Workers will be considered "senior" at age 57 and eligible for better benefits, albeit not as generous as in the past.

crashnitrokart| France will cut unemployment benefits due to rising debt pressure

The move comes after the International Monetary Fund issued a warning about France's high debt burden, calling on France to do more to control its budget deficit. The country's fiscal watchdog said the plan to do so lacked credibility and consistency.

French Finance Minister Bruno Le Maire said the government would "do everything necessary" to fulfill its commitment to keep the budget deficit within the EU's 3% cap of GDP in 2027.

In two weeks, France will hold European parliamentary elections. Polls show that Marina Le Pen's far-right party, the National Assembly Party, will win with a large margin. She has been an outspoken critic of Macron's labor reforms, which she said punished workers.


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