Today, we’re turning our attention to France, where a recent Budget has sparked intense debate and raised major questions about the country’s economic future.
France is tackling some big economic challenges: rising public debt, slow growth, and the need for major reforms in areas like pensions and energy. In this episode, we’ll explore what was in the budget, why it caused such a stir, and how it compares to the recent UK budget.
To help us make sense of it all, we're thrilled to welcome Dr. Antoine Bozio, Director of the Institut des Politiques Publiques in Paris.
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00:00 - Introduction
1:50 - Political context
4:27 - What problems was the Budget trying to address?
11:20 - Why the Budget failed to pass
14:00 - French tax and spend explained
22:04 - The 'no Budget' scenario
27:50 - Effect on the markets
29:40 - Is France spending a lot on debt interest?
31:24 - What happens next?
35:10 - What lessons can the UK take from France?
38:37 - Conclusion