LESS than two years ago, Bruno Le Maire was an outsider in the race for France’s centre-right Republican presidential nomination. Little over a year ago, he denounced another presidential candidate, Emmanuel Macron, as a “man without a project because he is a man without conviction”. Today, the “man without conviction” occupies the presidency and Mr Le Maire (who quit his own party) serves as his finance minister. Astonishingly, all this is regarded in France as perfectly normal.
If Mr Macron’s hybrid government, which has borrowed from the former left, right and centre, is ever a source of frustration for the self-described Gaullist, Mr Le Maire will not say so. “We are doing exactly what we need to do to be successful in the social and economic transformation of the French model,” he insists. In just over a year, the government has cut corporate tax, ended the wealth tax and introduced a flat tax on investment income. The budget...Continue reading
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