For his next magic act, Emmanuel Macron wants to reform France’s creaking social-welfare programs. The French President last week released a Twitter video and delivered a speech launching a debate over social spending, and this will be his biggest reform fight to date—and also the most perilous.
Specific proposals for changes aren’t due until next month at the earliest. But the outline is likely to consist of more money for health-related spending, but significantly less for income supports and housing subsidies.
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