Michel Barnier "has taken the measure of the urgency" according to the Medef

"By making the reduction of debt and deficits the priority of government action, the Prime Minister has taken the measure of the urgency and the threats weighing on France, its economy and its businesses," said the Medef in a press release, published after Michel Barnier's general policy speech to Parliament.

Noting that "nothing would be worse than a credit accident", the employers' organisation "welcomes Mr Barnier's truthful speech" on the state of public finances and considers his objective of reducing the public deficit to 5% of GDP in 2025 to be "realistic", after more than 6% this year.

According to the Medef, this objective "can only be achieved by first and foremost mobilizing the lever of reducing public spending."

"Without this prerequisite, any additional contribution from companies, necessarily exceptional and measured, would be incomprehensible," recalls the Medef, while Mr. Barnier announced that large companies, like the largest individual taxpayers, would be called upon in the budget.

The head of government indicated that the spending cuts would represent "two thirds" of the budgetary efforts to be made, without detailing the savings avenues envisaged.

The Medef also welcomes the desire "to undertake a powerful simplification project", desired by companies.

Finally, he appreciates that the Prime Minister makes "listening, respect and dialogue a method of government".

Michel Barnier has asked that the social partners take up negotiations on the employment of senior citizens and unemployment insurance, judging them to be "best placed to provide solutions".

Medef President Patrick Martin approves, observes the press release, since he himself had proposed at the end of August the resumption of negotiations on the employment of seniors.

Mr. Barnier finally asked the social partners to "consider adjustments" to the pension law. The Medef, which supports the spirit of this law, says it is "ready" to discuss it, on condition that "the balance of the system is not called into question."