Commission of Inquiry into France's Public Finances Set to Begin in December
The French National Assembly is gearing up for a comprehensive inquiry into the country's public finances, with significant hearings scheduled to start on December 3, 2024. This initiative, led by Éric Coquerel of La France Insoumise (LFI), aims to investigate the causes behind the notable deviations in fiscal and budgetary forecasts for the years 2023 and 2024. The inquiry comes in the wake of alarming projections indicating that the public deficit is expected to reach 6.1% of GDP this year, significantly higher than the previously forecasted figures of 4.4% and 5.1%.
The inquiry committee, equipped with extensive powers including the ability to summon witnesses and conduct hearings under oath, will first hear from various administrative departments, including the General Directorate of the Treasury and the Budget Directorate. The focus will then shift to political figures, with former Economy Minister Bruno Le Maire and former Budget Minister Thomas Cazenave scheduled to testify on December 12. This inquiry has been described as a crucial step in understanding the fiscal challenges facing France and holding accountable those in leadership positions.
Key Figures and Future Hearings
The inquiry is set to be led by rapporteurs Éric Ciotti from the Union of the Right for the Republic (UDR) and Mathieu Lefèvre from the Renaissance party. Following the initial hearings, the committee plans to continue its work into January, potentially summoning other key political figures, including former Prime Ministers Élisabeth Borne and Gabriel Attal, as well as Alexis Kohler, the Secretary General of the Élysée. The inquiry aims to provide a thorough examination of the fiscal situation, drawing comparisons with European standards and including insights from economists and financial institutions.
As the hearings approach, there is a palpable sense of anticipation regarding the testimonies and the implications they may have on the current government's fiscal policies. The inquiry represents a significant moment in French politics, as it seeks to address the pressing issue of public finance management and accountability.
