May 5
Go Sarko!
The French are deciding between two candidates for President. One, Segolene Royal promises to keep France on the same old track, just accelerating its decline into irrelevance. The other, Nicolas Sarkosy divides opinion on the right.
France has high taxes, a maximum 35 hour working week and many regulations which strangle small business. Its economy is sclerotic.
The solutions to these problems are quite obvious to economic liberals and libertarians but so far, French politicians of left and right have derided them as “Anglo-Saxon” as if laissez-faire was an English concept. In this they have had the support of much of the French voting population. That is, aside from the hordes of French young people who have been fleeing France to make a living in England.
Some commentators have said that Sarkosy, being a man of the UMP, like Chirac, will not take the necessary steps to revive the French economy. Certainly Sarkosy is no Anglo Saxon but that may well be a strength in the context of what he has to do. He has to deregulate the French economy, scrap the 35 hour week and if he is to have any lasting success he will need to persuade the French electorate that it is not just good for France but good for them.
Sarkosy, like Mrs Thatcher, is disliked by a certain section of his own party. To give an idea of his reforming zeal, Mr Sarkozy has not only said that he will abolish the 35 hour week, but will make the earnings for work done in excess of the 35 hours tax free. The equivalent in British politics would be for David Cameron to cut the top rate of income tax from 40% to nil.
Well, if the French go for collective suicide and elect Segolene Royal, maybe we can persuade Mr Sarkosy to come over here and run for Prime Minister.
