Cookies on Pinsent Masons website

Our website uses cookies and similar technologies to allow us to promote our services and enhance your browsing experience. If you continue to use our website you agree to our use of cookies.

To understand more about how we use cookies, or for information on how to change your cookie settings, please see our Cookie Policy.

French government unveils investment plan

French prime minister Edouard Philippe has announced plans to invest €57 billion in education, technology and the environment, to boost the country's economy.27 Sep 2017

Speaking to BFM TV, Philippe said France will invest €20bn in an energy transition plan, including €9bn towards improved energy efficiency, €7bn for renewables and $4bn to encourage the switch to cleaner vehicles.

The plans also include funding for training low-skilled unemployed citizens, aiming to train two million people with low skills to get back into work. The government intends to spend €15bn over five years on this, he said.

€7bn will be spent to develop renewable energies and €9bn "to amplify the effort of thermal renovation of buildings", Philippe said.

The government also wants to encourage conversion of the most polluting motor vehicles, defined as petrol vehicles from before 1997 or diesel before 2001, with a target of 100,000 vehicles per year.

"We must accelerate France's adaptation to the twenty-first century", Philippe said. "Public money must prepare the future as much as it manages the issues of the present," he added.