The Republicans group in the French National Assembly has launched a commission of inquiry into the significant growth of the country’s debt during Emmanuel Macron’s presidency. Philippe Juvin, a Republican deputy from Hauts-de-Seine, has been designated as the president of this commission, citing concerns about the worsening state of public finances and the increasing debt during Macron’s two terms in office. The deficit in France reached 5.5% of GDP in 2023, leading to an additional 15.8 billion euros of debt compared to projections. Despite the government announcing budget cuts totaling 20 billion euros, the Republicans believe that more needs to be done to address the issue.
Véronique Louwagie, a Republican deputy from Orne and a member of the commission, points out the significant increase in France’s debt compared to Germany over the years, questioning the government’s commitment to reducing the country’s debt. The commission, led by Mathieu Lefèvre, will conclude its hearings in mid-September and present its findings in early November, just before the National Assembly debates the 2025 budget. The Republicans expect the commission to highlight the dire economic situation and hold the current majority responsible for it, potentially leading to a motion of censure.
In recent months, the Republicans have been criticizing the government’s handling of public finances to position themselves as advocates of responsible financial management. They highlight that under Macron’s presidency, French debt has increased by 50% over seven years, even before the Covid-19 crisis. Olivier Marleix, the leader of the Republican deputies, suggests that the government will face a tough challenge during the 2025 budget discussions and indicates the possibility of a motion of censure. The Republicans aim to draw a contrast between their approach to financial management and that of the current government.
The Republicans are leveraging the issue of increasing debt to challenge Macron’s economic policies and to position themselves as a more fiscally responsible alternative. They criticize the government for allowing French debt to rise significantly over the past years, contrasting with the efforts made by countries like Greece and Portugal to reduce their debts. By focusing on the economic challenges faced by France, the Republicans hope to gain support and present themselves as a credible alternative for voters looking for a different approach to financial management. However, the government has defended its economic policies, arguing that they are necessary to address the challenges faced by the country.
The commission’s investigation into the growing debt under Macron’s presidency is expected to shed light on the state of public finances in France and hold the government accountable. The Republicans are using this opportunity to highlight their concerns about the economic direction of the country and to present themselves as a credible opposition focused on responsible financial management. As the debate over the 2025 budget approaches, the findings of the commission could have significant implications for the government and its economic policies. The Republicans are determined to push for changes and accountability in addressing the debt crisis and to offer an alternative vision for France’s economic future.
