French presidential elections: similarities in candidates' programs

On the eve of the presidential elections, the candidates appear to have reached a consensus on several key issues. Indeed, they all agree on raising taxes for wealthier households; they agree on wanting to rebalance the balance of power between SMEs and large companies; and they also agree on the idea of building more land to lower property prices.

The candidates all aim to reduce the tax burden, which already amounts to 30 billion euros. Many see this as the result of a campaign influenced by severe budgetary constraints, but this agreement should not be misleading. While candidate François Hollande wants to create 60,000 positions in the national education system, Nicolas Sarkozy proposes eliminating 501 full-time equivalent (TP3T) positions created by retirements. Some see this as symbolic of a campaign under severe budgetary constraints—most are projecting balanced public finances at the end of their five-year term—preventing any costly spending, or even any ambitious reforms. The solutions to unemployment thus appear very conventional: the main candidates propose resorting to tax cuts, which already represent some 30 billion euros.

Most of the programs also include the objective of reducing tax loopholes. François Hollande proposes limiting tax advantages to 10,000 euros per year per household; François Bayrou, for his part, suggests reducing these loopholes by 20 billion euros over three years, through a general overhaul of 15%.

Less inclined to govern, Jean-Luc Mélenchon and Marine Le Pen do not hesitate to advocate heavy-handed measures, such as "taxing very high incomes at 100% or leaving the euro to escape budgetary constraints."