Debate starts on national loan

THE GOVERNMENT wants to borrow millions from the people of the country next year in order to build the “after-the-crisis-France.”

According to an IFOP survey, 17% are interested in the idea of loaning money to the state at interest as part of a national scheme. Economy Relaunch Minister Patrick Devedjian has called the figure “enormous” and said that the success of the scheme will be assured if this many people take part.

President Sarkozy has given the government three months to undertake a consultation phase into the scheme, which was launched with a discussion among ministers, lead by Prime Minister François Fillon (pictured).

Fillon told the ministers the idea was not to create a “second relaunch plan” (referring to the raft of recovery measures already under way) or to finance new public sector jobs or ordinary expenses of the state. The money raised should go towards “investments for the future,” which will create economic growth and jobs, he said.

The prime minister suggested such areas as nanotechnology and ecological technologies as ideal candidates.

Culture Minister Frédéric Mitterand said the idea of a flagship cultural project, along the lines of the successful Guggenheim Museum in Bilbao, was popular, however Sports Minister Rama Yade and Education Minister Luc Chatel’s ideas of renovating football stadiums to boost France’s chances of getting the World Cup and renovating primary schools were vetoed by Fillon as unsuitable.

Debate on what the loan should be spent on continues this week with discussions with unions scheduled to start on Wednesday. It is expected that the details of the scheme will be put into a law by the end of the year.

Photo: AFP/Fred Dufour