‘Anybody’s guess which candidate can make French dream a reality’

FRANCE often gets bad press worldwide, being hammered by the US for its political decisions and Britain for its economic ones.

Turn on almost any television channel and you hear a litany of things which are wrong with the country — from its 8.7% unemployment to its 30% corporation tax and the state employing more than half of workers in an economy growing slower than any in the EU.

It is obvious that something is wrong and needs to be fixed. But it is not that easy, as became evident from listening to the presidential candidates over the past few weeks.

There has been much talk of France needing a Thatcher to introduce liberal economic policies, and right-wing candidate Nicholas Sarkozy has been touted as such a character.

But the country has privatised much of its assets and operates very well in the modern world, being a leader in technology and the value-added luxury goods area, for instance.

Of course, it cheats a little, refusing to fully float its transport and energy sectors that then go on to buy up the British and other EU infrastructure being liberalised by their governments — which understandably infuriates them.

Its youth unemployment rate is probably the most frightening statistic at 20% and going as high as 50% in the poorer big-city suburbs where there was major rioting last year.

Business points to the huge costs associated with employing people, including social contributions and the difficulty with letting people go. Employers blame this for shifting manufacturing abroad.

There were massive demonstrations across France when the government made it easier to let go those under 26 within two years in an effort to increase employment.

But while France may not be an employer’s heaven, there is a huge amount that is right about the country.

The turnout in the weekend’s presidential elections showed it has perhaps the most flourishing democracy in Europe with a record 85% voting in the first round.

It has the most equitable tax system after Ireland’s, where the richest 30% pay almost 70% of the tax. It has the best health system in the world, costing roughly the same amount of GDP as Ireland spends on its creaking system. Its free education produces the best advanced maths students in the world. France comes 15th globally in child poverty compared to the US at number two, the UK at number four and Ireland at number six.

It gets more tourists a year than any other country, and it has double the value of conventional arms exports of Britain, coming third to Russia and the US.

Enhancing economic growth while maintaining social justice is the French dream both candidates are promising. Which of them might be capable of making changes and delivering both is anybody’s guess.