Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Hard-left politician to head French parliament's powerful finance committee

Stock Markets Jun 30, 2022 12:15
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO - French member of parliament of the leftist La France Insoumise (LFI) Eric Coquerel speaks during a session of questions to the Government at the French National Assembly in Paris, France May 26, 2020, as France eases lockdown measures taken

PARIS (Reuters) -Hard-left MP Eric Coquerel was elected chair of the French parliament's powerful finance committee on Thursday, a day after the far-right obtained two assembly vice-presidencies - signs of the growing power of radical parties in the new parliament.

President Emmanuel Macron's centrist party lost control of parliament in elections this month, which complicates planned reforms as he will need to share some of the power - and policy oversight - with other parties.

Coquerel, 63, is a veteran politician and one of the most senior members of firebrand Jean-Luc Melenchon's La France Insoumise (France Unbowed) party.

The finance committee he will now chair has extensive powers, and this was the most-watched vote as the new, very fragmented lower house of parliament sets to work.

The committee has a key role in the adoption of the French budget in parliament and in overseeing how the state spends public money, with the possibility of doing impromptu checks in ministries.

Its president can also get access to the confidential tax declarations of companies or individuals but can't publish them.

The committee's powers go beyond the budget bill, as it can strike down draft amendments on any legislation if it considers that it will unnecessarily weigh on public finances, giving its president a key role on a wide range of policies.

Ahead of his election, after two rounds of votes where no one secured an outright majority, opponents to the right and far-right accused La France Insoumise and Coquerel of not being fit for the job - comments that highlight the tensions in the assembly.

"I can't imagine using the presidency of the finance committee to organize a tax witch hunt!" Coquerel tweeted ahead of his election, brushing off the accusations.

"We are not going to use it to target political opponents," he told Sud Radio, while adding that he will use it to track down tax evasion by big companies.

Macron's Ensemble alliance, which is the biggest party in parliament even if it lacks an absolute majority, won the leadership of other key committees, but the finance one traditionally goes to an opposition party.

Hard-left politician to head French parliament's powerful finance committee
 

Related Articles

Ukraine in default according to Fitch and S&P
Ukraine in default according to Fitch and S&P By Reuters - Aug 13, 2022

(Reuters) -Global rating agencies S&P and Fitch on Friday lowered Ukraine's foreign currency ratings to selective default and restricted default as they consider the country's...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email