French minister invites UK back to EU
Roland Lescure suggests Britain can rejoin the bloc at any time, as PM hints at second referendum possibility.
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Roland Lescure, the French finance minister, has invited Great Britain to "come all the way" back into the European Union. This statement follows remarks from UK Prime Minister Andy Burnham, who suggested that a second Brexit referendum could be considered for a future Labour election manifesto.
Mr Lescure told the BBC that while being a member of the bloc presents challenges, it offers a better framework for addressing global issues. He acknowledged the UK's decision to leave the EU, stating, "British people decided, and that's obviously their 100% right, and if they're willing to come back, they will have to decide." He added, "But what I can tell them is: come back, anytime."
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Trade concerns
Prime Minister Burnham had previously expressed concerns that proposed European Union rules, known as the Made In Europe scheme, could negatively impact the UK. These proposals are designed to shield EU industries from Chinese competition by prioritising companies within the bloc for public contracts and subsidies. The EU's automotive sector has advocated for the UK's inclusion to avoid disruptions to its own supply chains. Mr Lescure suggested that rejoining the EU would place Britain "at the table" to discuss such matters.
Domestic challenges in France
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The finance minister's interview also addressed domestic issues within France, including widespread student protests. As of Wednesday, over 500 French schools were reported to be fully or partially closed. Hundreds of thousands of individuals participated in demonstrations calling for improved school conditions. Mr Lescure described the current world as "tough" for young people and stated that leaders have a responsibility to listen to their concerns. He acknowledged the difficulty of explaining limited funds for education due to spending on health and pensions, noting the need for financial rebalancing.
For the upcoming French budget, Mr Lescure indicated plans to reduce health spending and implement a below-inflation pension increase for retirees next year. While not all French schools are in disrepair, he committed to further investment in education, stating that additional measures would be considered if necessary.
Public borrowing concerns
France is also grappling with its budget deficit and rising borrowing costs. Mr Lescure described the nation's annual public borrowing, which exceeds 5% of its gross domestic product, as "alarming" and stressed the urgency of taking action to prevent more severe measures later. He expressed his commitment to ensuring France does not require intervention from the eurozone's central bank. Despite increased borrowing costs, particularly the premium paid over Germany, Mr Lescure stated there was "no issue" with issuing French debt and that his budget proposals would be approved by parliament.
Questions this report answers
+What has the French finance minister said about the UK rejoining the EU?
French Finance Minister Roland Lescure has invited the UK to "come all the way" back into the European Union. He stated that Britain can rejoin at any time if it decides to do so.
+Could a second Brexit referendum happen?
UK Prime Minister Andy Burnham has indicated that a second Brexit referendum is a possibility that could be included in a future Labour election manifesto. He suggested the UK needs to "consider the options" available.
+What are the main financial challenges facing France?
France is facing an "alarming" annual public borrowing that exceeds 5% of its gross domestic product. The country is also experiencing rising borrowing costs and plans to rebalance its budget by cutting health spending and limiting pension increases.
+Why were French schools affected by protests?
More than 500 French schools were fully or partially shut due to widespread student protests. Demonstrators were calling for better conditions within the school system, and the finance minister acknowledged the need to listen to young people's concerns.
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