Marine Le Pen proposes budgetary golden rule via referendum

Marine Le Pen, the Rassemblement National presidential candidate, has proposed a referendum to adopt a ‘budgetary golden rule’ aimed at the rapid and sustainable restoration of France’s public finances.

In an op-ed published in L’Opinion, Le Pen criticized the current state of French public finances, describing them as ‘catastrophic’ and blaming the administration of Emmanuel Macron for excessive debt accumulation. She argued that the debt is projected to exceed 120% of GDP, potentially reaching 140% by 2032 if decisive action is not taken.

Le Pen’s proposal seeks to ‘engrave in stone’ the restoration of the accounts to restore confidence among French citizens and international investors. Her long-term objective is to bring the public debt back down to 60% of GDP, aligning with the threshold France committed to within the eurozone.