WEBVTT - French Finance Minister Talks New Budget Law Negotiations

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<v Speaker 1>The French finance minister, Antoine Armand says that the government

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<v Speaker 1>won't accept ultimatums from Marine Le penn over a new

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<v Speaker 1>budget law, even as the far right leader gave her

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<v Speaker 1>strongest indications yet that she will topple the administration as

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<v Speaker 1>soon as this week. Of course, her party in parliament

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<v Speaker 1>has the largest number of seats. Altoine Armand has been

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<v Speaker 1>speaking to Bloomberg's Caroline Cunnel in Paris.

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<v Speaker 2>Let us be very clear, Francis is on the right track.

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<v Speaker 2>France's economy has got very solid arguments and it needs

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<v Speaker 2>to be repeated. First of all, as you know, we

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<v Speaker 2>expect a growth of one point one persons in twenteen

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<v Speaker 2>thirty four. It will be above the Eurozone average. Second,

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<v Speaker 2>we have an inflation under the two percent, which is

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<v Speaker 2>now stable. And third of all needs to be said,

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<v Speaker 2>we have an unemployment which is at its lowest in

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<v Speaker 2>forty years in French, in France, so we have a

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<v Speaker 2>strong economy. We have solid arguments, and last but not least,

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<v Speaker 2>we have a clear perspective. Our government, Michelle Barnie's government

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<v Speaker 2>has a clear commitment to reduce the deficit. It will

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<v Speaker 2>be done. It needs to be done.

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<v Speaker 3>It needs to be done, but it's getting very difficult

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<v Speaker 3>this week because obviously your government faces a possible motion

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<v Speaker 3>of no confidence and could collapse as soon as this week.

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<v Speaker 3>Michelle Banie, the Prime Minister, has already made some concessions,

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<v Speaker 3>including on prices of electricity. What other concessions are you

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<v Speaker 3>ready to make? Are you ready to tell us today

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<v Speaker 3>in order for Marine nupen from the national reality to

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<v Speaker 3>abstain from a vote of no confidence.

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<v Speaker 2>You're right to remind that my Prime Minister, Michelle Bannie,

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<v Speaker 2>is a man of dialogue and compromise and this government

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<v Speaker 2>in the last week has clearly demonstrated its willingness to

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<v Speaker 2>ensure that Friends could have a budget through evolution in

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<v Speaker 2>the budget. And let me remind also that the parliamentary

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<v Speaker 2>debate is still ongoing and we have to wait until

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<v Speaker 2>the end of this debate. But as you said, Friends,

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<v Speaker 2>as a critical time, we have the arguments, we have

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<v Speaker 2>the fundamentals, we have a perspective to reduce public spending

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<v Speaker 2>and to cut boring, which is very important for Friends,

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<v Speaker 2>but for Europe as well. So let's say, let's remind

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<v Speaker 2>the political leaders in France that we have a common

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<v Speaker 2>responsibility and that this common responsibility includes voting, adopting passing

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<v Speaker 2>a budget.

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<v Speaker 3>Does that mean there's going to be more compromise, more

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<v Speaker 3>concessions before Monday night, which is the deadline that my

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<v Speaker 3>Inupien has given you.

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<v Speaker 2>As I said, the French government doesn't take multim atoms.

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<v Speaker 2>It's looking at the French parliamentary debate. It's respecting every

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<v Speaker 2>each and every parliamentary debate that leads to an evolution.

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<v Speaker 2>We will take into account what is changing, but we

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<v Speaker 2>won't be blackmailed. We are committed to reduce the deficit.

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<v Speaker 3>I understand you're willing to perhaps compromise, but mine open

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<v Speaker 3>has some speed. The seafly concessions she wants from the government,

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<v Speaker 3>including that all pensions be indexed on infation as soon

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<v Speaker 3>as January, and she also wants the government to give

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<v Speaker 3>up this plan to abandon some drug reinforcement on these

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<v Speaker 3>two specific topics. Is there any way to have more

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<v Speaker 3>concessions from the government.

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<v Speaker 2>Let's just not just focus on the for assemble mon

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<v Speaker 2>nacional because as you know, but it's key, it's key,

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<v Speaker 2>but it's not enough. And as you say, for a

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<v Speaker 2>vote of confidence to be adopted at the French parliament,

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<v Speaker 2>you would need to have the Socialist Party, the left

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<v Speaker 2>parties to vote with the far right parties. So it

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<v Speaker 2>would not only be the responsibility of Marine Lupezz party,

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<v Speaker 2>it would also be the responsibility of French socialists, French ecologists,

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<v Speaker 2>people who are willing to oppose to Marine Lupin to

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<v Speaker 2>vote together. It would be a very bad signal politically

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<v Speaker 2>an economically for these countries, for our country, and for

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<v Speaker 2>these parties who are saying and claiming that they could

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<v Speaker 2>say government parties.

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<v Speaker 3>Does that mean you're trying to negotiate with the Socialist Party,

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<v Speaker 3>not the National Valuy.

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<v Speaker 2>We are not focused on with whom we negotiate or not.

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<v Speaker 2>As I said, the government is a government of dialogue,

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<v Speaker 2>of respect of co construction. This budget, this budget has

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<v Speaker 2>been co constructed. It's not the result of just a

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<v Speaker 2>government project. It's evolving within the days and the weeks

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<v Speaker 2>of the parliamentary debate will still be open. But not

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<v Speaker 2>to blackmail.

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<v Speaker 3>You're not open to blackmail. But the thing that my

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<v Speaker 3>independent wants really is for the government to respect That's

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<v Speaker 3>what she says, to respect the electorate of the National Valuy.

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<v Speaker 3>Are you willing to say that the concessions you've already made,

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<v Speaker 3>for example, are thanks to the National valuy and that

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<v Speaker 3>you respect her electorate.

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<v Speaker 2>We respect every each and every MP, and we respect

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<v Speaker 2>each and every people in France, whatever they decided to

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<v Speaker 2>vote or not to vote, of course, but what's my

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<v Speaker 2>responsibility as a finance minister is to commit to the

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<v Speaker 2>five percent target that we decided to have at the

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<v Speaker 2>beginning of our mandates, not only for friends or for

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<v Speaker 2>the government, because it's now needed in order that Europe

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<v Speaker 2>still remain a country, a continent of prosperity. That's what

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<v Speaker 2>we aim at, and for that we need all political

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<v Speaker 2>leader to be responsible.

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<v Speaker 3>With these concessions that we've seen in the budget, they're

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<v Speaker 3>going to cost about ten billion euros.

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<v Speaker 2>Does that mean you can.

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<v Speaker 3>Actually keep this five percent deficit target or do you

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<v Speaker 3>believe perhaps it will be slightly higher, like five point

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<v Speaker 3>five or perhaps higher.

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<v Speaker 2>As I told you, our commitment to reduce the budget

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<v Speaker 2>deficit towards five percent in twenty twenty five and towards

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<v Speaker 2>three percent in twenty twenty nine is not an option.

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<v Speaker 2>It is something something we are very carefully looking at.

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<v Speaker 2>What does that mean you can actually it means that yes,

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<v Speaker 2>it means that at every time that we made adjustments

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<v Speaker 2>on our budget, we compensated it with saving with new measures.

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<v Speaker 2>It's clearly an important point to underline here. We all

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<v Speaker 2>committed to this five percent target in twenty twenty five

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<v Speaker 1>So that was Fances Finance Minister Antoine Armor speaking to

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<v Speaker 1>our own Caroline Connot in Paris