Report
France: The three emergencies for social policies
France's social policies, on both the government and corporate sides, could be based on three emergencies or themes: Supporting young people, who are the most affected by the COVID crisis (difficulties entering the labour market, temporary jobs, loss of income for students), and who will later suffer from the rise in real estate prices caused by the very expansionary monetary policy; Increasing the lowest wages in the sectors where they appear, with the difficulty that such a rise must not lead to the destruction of low-skilled jobs; Developing employee share ownership, which is the most suitable way to obtain a reduction in the abnormal gap between shareholders ’ return on equity and risk-free interest rates. These three social policies could be added to the key objective of France's economic policy, which is to increase the employment rate.
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Natixis
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Patrick Artus
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