French Government Looks to Boost Employment, Slash Budget Deficit with New Unemployment Insurance Reforms

Government unity on work and unemployment insurance led by Gabriel Attal

French Government Looks to Boost Employment, Slash Budget Deficit with New Unemployment Insurance Reforms

The French government is facing a significant budget deficit, and as a result, it is looking to make savings. Following the escalation of the deficit out of control last year, the Prime Minister called a seminar similar to a Council of Ministers meeting in Matignon on Wednesday morning to discuss work-related topics.

During the seminar, social spending such as unemployment insurance was identified as a target for addressing the deficit. The Prime Minister stated that the government will prioritize rigor and responsibility with a focus on work, emphasizing that more employed French people would better balance their finances.

The government will also address issues such as de-employment, low wages, and new forms of work like the four-day week, which are still in the experimental phase. Additional savings will be necessary this year and especially in the 2025 budget, estimated to be “at least 20 billion” euros.

The government is considering various avenues to boost employment and save money, including a new unemployment insurance reform that unions are contesting. One of the key proposals being discussed is a reduction in the duration of compensation for the unemployed, with arguments suggesting structural reforms are necessary to achieve full employment. This proposal may take at least a year before having an impact on public accounts.

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The Prime Minister later appeared on TF1 news at 8 p.m., where he commented on his plans for tackling France’s public deficit through increased employment opportunities.

Overall, it seems that the French government is taking decisive action to address its significant budget deficit by focusing on creating more job opportunities while also considering financial margins within various sectors such as employment services.

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