Sunday, September 8, 2024

France’s far-Right wants to cut the EU’s budget – Brussels should be worried

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Even before proposing a raid on the EU’s budget National Rally were proposing a loosening of the public purse strings, potentially adding to the nation’s already large debt.

“They want to cut taxes and spend more, but they are lacking additional revenues, so if they can find some money in lesser contributions to the EU, it would be welcome,” says Barincou.

The country is set to pay €21.6bn to Brussels this year, making it the second-largest contributor to the €189.4bn budget.

However, achieving cuts to the EU budget contributions may prove easier said than done.

“They can’t do it,” says Iain Begg, a professor at the London School of Economics’ European Institute. “Legally, it’s virtually impossible.”

France, like other member states, has committed to paying into the European budget through a policy called the EU’s own resources decision. Changing this amount requires the consent of the other 26 countries in the union.

“They would face an immediate sanction from a case being put in the European Court of Justice, which would find France very rapidly in breach of its obligations,” says Begg.

“The equivalent would be Westminster unilaterally saying: ‘We are no longer going to fund Scotland.’ It would create such a hoo-ha that you just cannot envisage it happening.”

Erik-Jan van Harn at Rabobank agrees: “Every member state needs to agree on a potential rebate, so the chances of France actually getting a rebate are pretty small.”

However, van Harn believes a grand failure on the EU stage could in fact work to Bardella’s advantage.

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