"Antoine Armand, Minister of Economy, emphasizes the need for increased effort; presents his economic strategy"
Minister of the Economy, Antoine Armand, suggests boosting work hours to strengthen France's social security model
Bye-bye, Saturdays? That's what the new Minister of Economy, Antoine Armand, is hinting at as he pushes for an increase in work hours to sustain France's social security. In a candid chat with Les Echos, Armand expressed his desire to see the French working more to boost the economy and fund social security.
"We've got to roll up our sleeves," says Armand, emphasizing the need to work longer hours and reduce the rise in contribution rates for low-wage earners. In the upcoming 2025 budget, he maintains that alternative efforts will be vital, including ramping up work hours – a department where France still lags, he believes.
A earlier mention of the possibility of scrapping a day off, however, is off the table. "Forget about tampering with the Dutreil Pact or meddling with the research tax credit's winning formula," Armand says.
Toil for More than Five Days a Week? Not So Fast!
What does this mean for French employees yearning for RTT (Reduction of Working Time without Loss of Pay) or longing for a four-day workweek? Armand proposes these privileges as the exception rather than the norm. "Juicy perks like RTT and the four-day week? Most employees have been left wishing upon a star," says Armand.
With France aiming for a public deficit of 5% of GDP next year, a scientific committee will be summoned to evaluate economic models, with Armand open to considering fresh cost-cutting measures, if required, throughout the year.
A Nod to the 35-Hour Workweek: Time for Change?
In a frank discussion on Franceinfo, Armand raised the eyebrows of many when he openly supported discussing the 35-hour workweek. "Our nation is slipping when it comes to budget ratios, but resorting to hiking taxes won't restore faith in our economy," he declared. "Let's tackle some tough issues, such as unemployment insurance, and challenge the 35-hour workweek."
Brace Yourself, French Workers: It Might be a Longer Ride
Though Armand hasn't provided the specifics on his plans to boost work hours, it's clear that he envisions longer working weeks for the French workforce. With the necessity of rebalancing economic goals and social and legal considerations, it remains to be seen precisely what changes Armand has in store for France's workforce.
However, with France trailing in work hours, Armand's strategy could mean French employees bid adieu to their precious weekends – or at least part of it – as they navigate the country's social security challenges.
"The finance and business sectors will closely watch Antoine Armand's proposals as he plans to extend work hours to bolster France's social security model, ultimately affecting many employees. In politics, Armand's approach to the 35-hour workweek has sparked debates, with the potential for a review of this general-news topic."
