Partial reversal of the Government in the pension reform that put France on its feet
In France, Emmanuel Macron’s government may make another concession to its plan to raise the retirement age from 62 to 64 to secure a parliamentary majority amid massive public protest.
As more and more people join the protests and opinion polls show the French overwhelmingly reject the reform, the government is under pressure to reconsider the president’s signature economic reform.
French Prime Minister Elisabeth Borne said in an interview with the JDD newspaper today that they are planning an arrangement so that more people can retire before their 64th birthday. Borne said a regulation will be made to allow people who start working at a young age to retire earlier.
IT COSTS 1 BILLION EUROS
If parliament approves the latest change, those who start working at the age of 20-21 will be able to retire at the age of 63. The change, which allows more people to retire at 63, will affect around 30,000 people a year in France and cost between €600 million and €1 billion a year.
Debate on the proposal will begin tomorrow in the National Assembly, with unions slated for more strikes and protests on Tuesday. This proposal is also intended to impress the members of the Conservative Party.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
