The election of Emmanuel Macron as the 25th president of the French Republic in May 2017 has given citizens of France a renewed sense of optimism. Macron, who defeated far-right candidate Marine Le Pen in a second round runoff election, has promised a series of reforms intended to modernize France’s economy, bridge divisions between citizens, and ultimately to make his country an even more attractive place for businesses to work as France enters the fourth industrial revolution. In this article, we’ll look at some of the changes already made and reforms yet to come during Macron’s presidency to more clearly define what his new vision for France entails.
The Background to Macron’s Rise to Power
Prior to Macron’s election, French citizens had grown to be increasingly discontent with their country’s mainstream political parties and leaders. Geopolitical issues such as Brexit and the migration crisis weighed heavily on the minds of the French populace, and it seemed that traditional politicians were no longer able to keep up with the times. Macron, who is a former investment banker and who had served under the tenure of incumbent president Francois Hollande, emerged as a fresh and independent alternative to the status quo and capitalized on the national disillusionment. He ran on a platform of business-friendly policies yet managed to capture some of the votes of traditional, centre-left social democrats. With a clear platform of economic reform, Macron managed to win over a plurality of voters and now leads France during her current period of social and economic transformation.
Macron’s Plans for Economic Reform
Macron’s most prominent campaign promise pertained to economic reform, with a particular focus on the labor market. His primary objective is to liberalize the French labor market, making it easier for startups to hire and fire employees and making the whole system more market-oriented. To start, Macron has proposed a number of corporate tax incentives, including a significant tax break for small businesses and an exemption for revenues earned abroad.
Another of his major objectives is to expand France’s digital economy. He has made investments in artificial intelligence, big data, and blockchain, and spoke recently at the World Economic Forum in Davos about the progress he intends to make with France’s digital economy.
Macron’s plans also include an attempt to revive a stagnant domestic economy. To do so, he has voiced his support of public-private partnership initiatives and of entrepreneurial funding. He has also proposed a Strategy France Investment project that involves creating incentives for investors and businesses alike.
How Macron Will Combat French Inequality
In addition to his economic reforms, Macron has also begun to tackle France’s deeply entrenched problem of inequality. He has proposed to reduce the number of public-sector jobs and to incentivize private companies to hire more workers. He has spoken strongly in favor of greater economic participation among women, and is committed to improving workplace conditions for those from the most disadvantaged backgrounds.
Macron is also introducing a number of reforms to the country’s social welfare system. He is attempting to combat inequality by providing job training and educational opportunities for those on lower incomes. He aims to provide more support for underprivileged students as well as guaranteed basic incomes for those who need it.
The Legacy Macron Hopes to Leave
Ultimately, Macron wants to leave a legacy of French unity and international cooperation. To that end, he has made efforts to revive global relations, particularly by salvaging the Paris Agreement on climate change at the 2017 G-20 summit in Hamburg. He has also expressed his support for multilateralism, praising the United Nations, the European Union, and the North Atlantic Treaty Organization.
While Macron is by no means universally popular in France, the majority of citizens believe that he is capable of delivering on his promise of reform and modernization, which will in turn offer a brighter and more prosperous future for the generations to come. He intends to create a new vision for France, modernizing its economy and addressing the issue of inequality, creating a country in which everyone can have equal opportunity regardless of gender or socio-economic background. With Emmanuel Macron at the reigns, the future of France looks brighter than ever before.
