Debout la République candidate Nicolas Dupont-Aignan presented his economic programme on Wednesday, he is interviewed by Yann Duvert.
Photo: Nicolas Dupont-Aignan's Facebook page
Article source: “Dupont Aignan: "Il y a en effet des points communs avec Marine Le Pen"”, Yann Duvert, L’Express (15/02/2012)
Dupont-Aignan presented his economic vision for 2012 on Wednesday. He proposes leaving the eurozone and cutting corporation tax. “I solemnly maintain that a balanced budget can be restored by 2017” and “that the national debt can be reduced without even having to implement” austerity plans, he declared. He acknowledges some similarities with the Front National’s programme, but considers his own plans to be more “realistic”. Here is the interview.
In concrete terms, how are you planning to leave the eurozone?
N.D-A: A people never negotiates its freedom. If France says “we’re going to leave the eurozone,” it will bring such joy that the other countries will follow.
How is your economic programme different from Marine Le Pen’s?
N.D-A: There are indeed some common points which I acknowledge. I share with her this desire to regain our liberty (by leaving the eurozone), and to turn to the Banque de France [to implement quantitative easing]. What is different is how taxpayers’ money is going to be spent. In my opinion, distributing money in a weak economy, as the FN suggests doing by raising the SMIC, is the wrong solution. Personally, I would suggest that a lasting solution requires a significant effort to increase investment. On the other hand, we should not lie to the French people, who should be aware that there will be no immediate increase in purchasing power.
Like the Front National, you want to borrow* an amount equivalent to 100 billion Euros from the Banque de France each year, not only to reduce the national debt but also to create employment in education (30,000 jobs), the police (10,000) and research. Is there not a risk of inflation?
Jean-Pierre Gérard, the economist in charge of the project: We foresee an inflation rate of about 3% because of the import tax we want to set up. But having the Banque de France increase the money supply will not have a significant impact. At most it will touch the accelerator slightly from time to time. Look at the USA: they regularly print money but they don’t have an extraordinary inflation rate.
Won’t the implementation of import taxes isolate France within the European Union?
N.D-A: No, I intend to introduce taxes only on goods which are made in “slave-driving” countries, meaning countries where the workers are being exploited, and where the labour costs are consequently lower. Of course, it will be a rough guess, if I can put it like that. Most of the countries concerned would therefore be outside Europe.
But isn’t this incompatible with membership of the World Trade Organization?
N.D-A: But the WTO is the free trade lobby! China, to name only one country, has been flouting the WTO agreements for years, and nobody says anything. We should stop letting the French people believe that nothing can be done, it’s absolutely untrue.
You also want to halve corporation tax for companies investing in France…
N.D-A: It’s all done to relocate employment in France. Combined with import taxes, this measure will encourage companies to come and produce in our country. And French companies will have no interest at all in going abroad, seeing as the goods they produce abroad will be taxed as soon as they get to France. This is the only way to relocate a million jobs.
* It seems the journalist has misunderstood the economic policy. The economist Jean-Pierre Gérard appears to be proposing quantitative easing (increasing the money supply to stimulate the economy) and not an increase in public sector borrowing (which it would be entirely paradoxical to propose as a means of reducing public debt). It is unclear whether N. D-A also misunderstands the policy. (Editor’s note).
Translation: Noémie Leroy and Fleur Houzé
Editing: Sam Trainor