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Tes Editorial

President-elect Hollande

It will be interesting to see what happens next if Francois Hollande keeps his promises as French president. Early retirement for state employees, 75 per cent tax and so on. Basically they are going to do what the British left want - more state spending, higher taxes ...


Could be 1968 revisited, tripping the barricades in Paris. Much more fun than the Olympics.


Where do you think the high earners in France will go if they don't like it? Britain may be attractive. Not too far away not to make regular visits home and bung their mums a few grand in cash. Earn a few bob to pave the way for their preferred candidate in the next election and line their pockets more thickly after that.


On the plus side, Hollande will demonstrate whether increasing public spending, lowering retirement age and taxing high earners is sound economic policy. If it works for them, we can implement it, too.


I loved the accordion on stage in Tulle after Hollande's acceptance speech. Brilliant. Hollande will revert to 60 as a retirement age (it is 61.5 at the minute - Sarkozy moved it up one-and-a-half years and nearly caused another revolution in France).


Daughter has her A2 French oral exam tomorrow, so I thought it timely to do some practice. Just as well - when I asked her about Hollande's stance on nuclear energy, she started: "Si Francois Hollande gagne l'election presidentielle." I had to interrupt swiftly to let her know that the election had actually taken place.


Hollande's already announced that he will cut his (presidential) salary and that of his ministers by 30 per cent, as well as increase the "allocation de rentree scolaire" (the back-to-school allowance for parents) by 30 per cent.


Well, that's obviously going to balance out in the books then.


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