Investment plan

Key points of Macron’s multibillion-euro investment plan for France

President Emmanuel Macron will unveil today (October 12) his investment plan, estimated at 30 billion euros, to “build France 2030” and boost international competitiveness.

The plan is part of the work to revive the economy after the Covid crisis.

Full details are to be announced by Mr Macron today at the Elysee Palace and will be added to the 2022 finance bill that the National Assembly began to consider yesterday.

What are the objectives of the “France 2030” plan?

Mr. Macron declared that the objective is to “build the France of 2030, and bring out the champions of tomorrow in our country and in Europe, in the digital, ecological, biotechnological and agricultural sectors, which will shape our future”. .

The plan is to help innovators in these fields to be competitive both in Europe and globally.

The president is expected today to offer more concrete dates and details on the planned investment. It is estimated at around 30 billion euros over five years, AFP reported.

Which economic sectors are affected?

The plan is expected to include massive investments in several new industrial technologies, such as space, cars and vehicles, energy, nuclear power, “green aviation” and artificial intelligence.

The plan will aim to “build the technological players of tomorrow, in digital, in hydrogen, in batteries, in space, in health, and in culture too,” said Mr. Macron in a recorded speech played at French Tech start-ups. event at the Ministry of Finance on September 30.

How does nuclear power figure in the plan?

The plan should focus on nuclear, one of the main French industries.

President Macron is expected to unveil his plans for developing small nuclear reactors.

The objective is to continue to boost technology in the service of the ecological transition and the maintenance of the energy independence of France, at a time when energy costs are rising rapidly.

What are the international goals?

Increasing France’s international competitiveness is a major element of the plan. President Macron said his goal was to make France “the leading technological power” and to support start-ups in Europe.

He also said his goal was to help France compete with Chinese and US tech giants as a way to “regain French and European independence.”

This comes as the industry is heavily dependent on Asia for key components, especially microchips, of which there is currently a major global shortage. This has had repercussions on the auto industry in particular, among many others.

The Minister of the Economy Bruno Le Maire also declared that the objective was “to increase the productivity of France, to reindustrialize the country and to allow us to regain export market share”, in order to avoid a possible “downgrade” of the French economy behind China and the United States. .

The plan should also include a ‘skills and professions’ component, in order to ensure the continuing education and engagement of young people in emerging industries.

What are critics saying about the plan?

Opposition leaders have denounced the plan as a “spending spree” that will lead to record debt six months before the presidential election.

Center-right presidential candidates Xavier Bertrand and Valérie Pécresse criticized Macron for “campaigning with France’s checkbook” and “burning the bank”.

But Mr Le Maire defended the project, saying low interest rates mean debt is currently cheaper, making it a “good time to invest”.

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