French President François Hollande hopes to create 470,000 jobs by injecting €3.5 billion in 34 key industrial sectors, but he will need Europe’s help.
President François Hollande and his firebrand Industry Minister Arnaud Montebourg presented a new investment strategy for 34 industrial sectors on Thursday (12 September).
The French President was following on the footsteps of Charles De Gaulle, who instigated French industrial policy in mid-late 20th century.
With France preparing to cut €18 million from its 2014 budget, a €3.5 billion boost to industry may seem surprising. But it is part of a long-term project that the president deems an essential “offensive strategy”, benefiting both unemployment and France’s image.
“Industrial decline has destroyed 750,000 jobs in the past 10 years. With this plan, we want to recreate 450,000 new ones”, said Montebourg.
Hollande defended the new policy, saying that there was nothing “shocking” about it, and that “Germany, UK and all major emerging powers are all developing industrial strategies.”
Chosen excerpts by Job Market Monitor. Read the whole story at
via France unveils €3.5 billion plan for ‘third industrial revolution’ | EurActiv.
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