▲ Marine Le Pen, lawmaker of France's National Rally (RN) and a leading presidential contender
Marine Le Pen, a leading French presidential contender and lawmaker for the National Rally (RN), stated on the 6th (local time) that she would strengthen national finances by cutting public spending even more drastically than her previous plans.
According to Reuters and Bloomberg, Le Pen said at a press conference that day, "Taking into account the interest rate hikes and the meager budget proposed by Prime Minister Sébastien Lecornu and President Emmanuel Macron, we can announce that by 2032 we will make a necessary adjustment of 140 billion euros (approx. 211 trillion won) in net savings compared to 2026."
Previously, the National Rally had announced a plan to save 125 billion euros (approx. 189 trillion won) over five years if it came to power, but it has now increased that scale.
Le Pen stated that the existing plan is not sufficient given the current situation, adding that most of the savings will be achieved within the first three years of taking office.
She also added that with this plan, the fiscal deficit could be brought down to 3% of gross domestic product (GDP), the European Union (EU) standard, as early as 2030, and below 2.5% by 2032, the end of the next presidential term.
France's fiscal deficit this year is projected to reach 5.4% of GDP.
France is facing growing concerns over fiscal soundness due to its massive national debt and fiscal deficit, which is leading to instability in the bond market.
Political turmoil ahead of the presidential election in April and May of next year is also pointed to as fueling investor anxiety.
The current government's budget bill for next year, previously announced by Prime Minister Lecornu, contains measures to cut spending by 43 billion euros (approx. 65 trillion won).
The far-right National Rally plans to achieve a significant portion of these fiscal savings through public sector efficiency, cuts to EU contributions, and reductions in immigration-related costs.
According to this plan, France's net contribution to the EU budget would be capped at 5 billion euros (approx. 7.5 trillion won), the level of the early 2000s.
She also claimed that tightening immigration controls and introducing "citizens-first" policies would save 29 billion euros (approx. 43.8 trillion won) annually, while pension reforms could save up to 20 billion euros (approx. 30.2 trillion won) in the long term.
(Photo: AP, Yonhap News)
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