The boss of the Modem and High Commissioner for Planning, François Bayrou, judged Wednesday unlikely that a pension reform could be successful by the end of the five-year term, even if it is ultimately “inevitable” and should be submitted to a referendum.
“It is necessary to consider an evolution of the pension system” to “better balance the load” which rests on assets, he stressed to the Association of Parliamentary Journalists (AJP).
But even if this prospect is “inevitable”, the High Commissioner for Planning “does not believe much that a reform can succeed before the presidential election, given the sensitivity of the subject”.
However, once developed, he defended the idea that it was submitted to a referendum “to avoid the multiple blockages which we have never escaped” on this file. Mr. Bayrou did not give any indication of a possible postponement of the retirement age.
President Emmanuel Macron recently fueled speculation on the relaunch of this explosive site by reaffirming that he should make “difficult” decisions so that the last year of the quinquennium is “useful”.
On pensions, he stressed that “nothing is excluded” but that the reform suspended at the start of the health crisis could not be “resumed as it is”.
Regarding the explosion of public debt caused by the Covid crisis, Mr. Bayrou stressed that it was not an “ordinary debt, but a war debt”.
“We must give ourselves the time to recover before repaying,” he pleaded.
He also spoke in favor of a “Marshall plan” intended to respond to the “collapse of the French productive apparatus”.
Noting that the savings of the French stood at 4,000 billion euros and that such a plan would require 250 billion, he mentioned without further details the possibility of “encouraging the French to go on this type of investment”.