Prime Minister Borne announces the nationalization of the main electricity company in France

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  • The head of the Government defends Macron’s presidential program in a general policy speech with little news

“The French ask us to let’s talk more, that we talk to each other better and that we build together”. French Prime Minister Élisabeth Borne has summed up with these words her desire to rule in minority and seek the support of the opposition based on each law. The second woman to head the Executive in the history of the Fifth Republic delivered her first general policy speech this Wednesday afternoon before the National Assembly, in which the macronist parties only have a relative majority.

His intervention contributed little news on President Emmanuel Macron’s project for his second term, with the exception of the nationalization of the electric company EDF. Basically, it was a repetition of the presidential program of the centrist leader, presented in March. And it was focused on how he wants to approve the laws in the unusual political scenario in France, in which the parties related to the president do not have an absolute majority in Parliament. Since 1988 there has been no such situation.

With the government reshuffle on Monday, Macron confirmed that will not form a coalition Executive with the Republicans (LR, related to the PP) nor with other opposition groups. After having lost the absolute majority in the June legislative elections, interpreted by public opinion as a vote of sanction for the president, he now intends to govern in a minority.

In fact, Borne did not submit to the vote of confidence —a non-compulsory but very common practice in France—, since I would surely have lost it. The opposition, divided between the left and the radical right, is the majority in the Assembly, but it will be difficult for them to act in a coordinated manner. NUPES, the unitary coalition of the left – the main opposition force with 151 deputies (out of a total of 577) – presented a motion of censure on Wednesday. However, the National Rally of Marine Le Pen (89 seats) and LR (62) announced that they would not support it.

“This is not the time to tell us, but to talk to us”

“Now is not the time to tell us, but to talk to us. Trust is not decreed a priori. This will form law after law, since we are going to work according to each law”, assured Borne, a leader with a technocratic profile, despite having served in the last legislature as Minister of Labor and the Ecological Transition.

His speech seemed to mirror many aspects of Macron’s electoral program. He defended a tax cut —for example, with the abolition of the fee for the public audiovisual service— and the fact that reduce the public deficit below 3% before 2027. He claimed the controversial delay of the minimum retirement age from 62 to 65 years (with 43 listed). He opted for the construction of nuclear reactors, as well as a system of electric vehicle rental, to face the climate emergency. He also promised the hiring of 50,000 nurses in the next five years in order to improve the situation of precarious public hospitals.

The nationalization of EDF

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The most novel was the announcement that 100% of the capital of EDF will pass into public hands. The French State already currently owns 85% of the shares of the main electricity company in the neighboring country. Thanks to this and regulated bills, France limited the increase in the price of electricity and that served to keep inflation, at 5.8% in June, lower than the EU average.

This policy, however, affected EDF’s treasury. Your nationalization It will cost about 5,000 million euros, but the public treasury should take charge of all the high debts of this company. A measure taken in the current turbulent context, of economic and energy crisis, in which Macron aspires to govern in the minority.

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