Mar 11 • 10:19 UTC 🇫🇷 France Le Figaro

"We no longer have money": the governor of the Bank of France opposes public aid on fuel

The governor of the Bank of France, François Villeroy de Galhau, opposes public subsidies for fuel amidst rising prices, asserting that increasing deficits and debt would harm French citizens.

François Villeroy de Galhau, the governor of the Bank of France, has firmly stated that the government can no longer afford public aid for fuel amid soaring prices. He emphasized that further increasing deficits and national debt would potentially jeopardize the financial wellbeing of French citizens. This statement comes at a time when fuel prices are significantly impacting consumers, leading to calls for urgent government intervention.

As fuel costs continue to rise, various political factions are urging the government to take action to alleviate the financial strain on motorists. The National Rally (RN) is advocating for a reduction in energy taxes, while La France Insoumise (LFI) is demanding a freeze on fuel prices. However, government spokesperson Maud Bregeon suggested it is premature to discuss new fuel purchase assistance, reflecting the current administration's cautious approach to any new fiscal expenditures.

The dialogue around public subsidies for fuel highlights a critical dilemma facing the French government amidst an economic environment marked by inflation and heightened living costs. The opposition's calls for immediate relief measures indicate a growing concern among the public regarding affordability, while the government's hesitance underscores a commitment to maintaining fiscal discipline. The implications of these discussions not only affect current economic stability but may also influence future political dynamics leading to the upcoming elections.

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