Macron’s government is targeting €20 billion to ease the effects of inflation as it searches for allies after the parliamentary vote

France’s minority government has unveiled a €20 billion inflation support package that will include fuel rebates, rent caps and an increase in pension benefits, but will need the support of at least part of the opposition to pass.

The package includes a 4 percent increase in social security and pension benefits, as well as proposals to raise civil servants’ salaries by 3.5 percent and extend a state-funded rebate on fuel prices at the pump.

With households increasingly struggling to cope with record inflation, the government is under pressure to pass the law quickly, while opposition parties are impatient to use their new power to fundamentally overhaul the proposed laws.

“Today we are adding 20 billion euros for new measures to protect our compatriots from the high cost of living,” Finance Minister Bruno Le Maire told journalists.

The government’s draft law also provided for a series of emergency measures in the energy sector to counter a looming crisis exacerbated by the war in Ukraine, allowing it to seize power plants and order operators to replenish gas supplies when needed.

It is the first major piece of legislation before Parliament since President Emmanuel Macron’s centrist coalition lost its outright majority in last month’s general election.

It’s still the largest group in the lower house of parliament, but it will need opposition lawmakers to back the law – or abstain numerically – for it to pass.

All opposition parties say they want to be constructive.

https://www.independent.ie/business/world/macrons-government-20bn-bid-to-ease-hit-from-inflation-as-it-seeks-allies-after-parliamentary-vote-41823389.html Macron’s government is targeting €20 billion to ease the effects of inflation as it searches for allies after the parliamentary vote

Fry Electronics Team

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