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| President Hollande tells France decline is not our destiny | President Hollande tells France decline is not our destiny |
| (4 months later) | |
| The French president has vowed to trim public spending and simplify France's huge public sector during a speech in which he told a pessimistic nation "decline is not our destiny". | The French president has vowed to trim public spending and simplify France's huge public sector during a speech in which he told a pessimistic nation "decline is not our destiny". |
| François Hollande, who was elected six months ago after opposing Europe's one-size-fits-all austerity, admitted cuts were needed in the public sector, which comprises more than half of the French economy. Amid rare criticism from the left on public spending, which is among the highest in the continent, he said France "should be capable of doing better, in spending less". | François Hollande, who was elected six months ago after opposing Europe's one-size-fits-all austerity, admitted cuts were needed in the public sector, which comprises more than half of the French economy. Amid rare criticism from the left on public spending, which is among the highest in the continent, he said France "should be capable of doing better, in spending less". |
| At his first official press conference at the Élysée, a set-piece of every French presidency, he urged the nation to stand together during the economic crisis. | At his first official press conference at the Élysée, a set-piece of every French presidency, he urged the nation to stand together during the economic crisis. |
| The stakes were particularly high for Hollande, whose approval ratings have plummeted recently to make him France's least liked president in the half year after an election. | The stakes were particularly high for Hollande, whose approval ratings have plummeted recently to make him France's least liked president in the half year after an election. |
| Hollande's unpopularity has been triggered by growing public confusion over his political vision amid charges in the press that he was planning a U-turn on his election promises by raising VAT sales tax in order to loosen the tax burden on businesses, something which would hit consumers while sparing the wealthy. | Hollande's unpopularity has been triggered by growing public confusion over his political vision amid charges in the press that he was planning a U-turn on his election promises by raising VAT sales tax in order to loosen the tax burden on businesses, something which would hit consumers while sparing the wealthy. |
| The president's approval ratings, which are hovering around 40%, are also the result of France's growing unemployment and the tax rises introduced by Socialists to help lower the deficit. | The president's approval ratings, which are hovering around 40%, are also the result of France's growing unemployment and the tax rises introduced by Socialists to help lower the deficit. |
| Turning around the country's stalled economy and closing a competitiveness gap with Germany, which is running a huge trade surplus as France sinks deeper into deficit, has become his biggest challenge. The president said he did not fear opinion ratings, or the media using him as a "punching ball", saying it would take time to reform France. | Turning around the country's stalled economy and closing a competitiveness gap with Germany, which is running a huge trade surplus as France sinks deeper into deficit, has become his biggest challenge. The president said he did not fear opinion ratings, or the media using him as a "punching ball", saying it would take time to reform France. |
| He added that he wanted to be judged on the results at the end of his term: "The only question that matters is not the state of opinion today, it's the state of France in five years," he said. "The recovery will take time but I believe we can succeed. I want young people to be living better in five years' time." | He added that he wanted to be judged on the results at the end of his term: "The only question that matters is not the state of opinion today, it's the state of France in five years," he said. "The recovery will take time but I believe we can succeed. I want young people to be living better in five years' time." |
| Hollande denied charges of a policy reversal and defended his decision to raise VAT, despite having lampooned the previous president, Nicolas Sarkozy, for a similar increase, which the Socialists had overturned. | Hollande denied charges of a policy reversal and defended his decision to raise VAT, despite having lampooned the previous president, Nicolas Sarkozy, for a similar increase, which the Socialists had overturned. |
| While voters fear modest households will be pummelled by the forthcoming tax rises, Hollande said VAT would be raised by only 0.4% – and not until 2014. He added that basic items would be spared the increase in an effort to cushion the poorest households. | While voters fear modest households will be pummelled by the forthcoming tax rises, Hollande said VAT would be raised by only 0.4% – and not until 2014. He added that basic items would be spared the increase in an effort to cushion the poorest households. |
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