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Monday April 22nd, 2019 2:12PM

France's Macron to respond to yellow vest economic crisis

By The Associated Press
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PARIS (AP) — French President Emmanuel Macron will be laying out his responses to the yellow vest crisis after three months of a national debate that encouraged ordinary people to propose changes to France's economy and democracy.

Macron will announce a series of measures in a televised speech to the nation Monday evening and will elaborate further in a news conference Wednesday.

The French leader is expected to respond to protesters' concerns over their loss of purchasing power with possible tax cuts and measures to help retirees and single parents.

Other proposed changes could affect France's democratic rules. Some observers say Macron may open up the possibility that citizens could propose referendums.

The French leader has repeatedly said he won't reintroduce a wealth tax on the country's richest people — one of the protesters' major demands.

The yellow vest movement, prompted by a fuel tax hike in November, has expanded into a broader revolt against Macron's policies, which protesters see as favoring the rich and big businesses. Their protests, which often turned violent, especially in Paris, provoked a major domestic crisis that sent Macron's popularity to record low levels.

Still, the number of demonstrators has been falling in recent weeks.

Most yellow vests leaders have urged supporters not to take part in Macron's national debate, saying they did not believe the government's offer to listen to the French. Ingrid Levavasseur of the yellow vests published an open letter Monday called "M. President, don't play the illusionist." She demanded measures to boost purchasing power and maintain public services.

Macron has already made concessions, but they failed to extinguish the anger of the yellow vest movement.

In December, he abandoned the fuel tax hike, scrapped a tax increase for retirees and introduced a 100-euro ($113) monthly bonus to increase the minimum wage, a package estimated at 10 billion euros ($11.5 billion).

  • Associated Categories: Associated Press (AP), AP World News, AP Business, AP Business - Economy, AP Business - Financial Markets
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