FThe Rance will cut unemployment benefits for high earners and get people to work beyond the statutory retirement age. This is part of a renewed reform that marks the "Law II" of Emmanuel Macron's presidency after a seven-month revolt of the "yellow vest".

41-year-old Macron plunged into economic-friendly, liberal reforms aimed at ending the over-regulation shortly after his election in 2017, but encountered serious headwinds at weekly protests.

With the definitive end of the Gilets Jaunes crisis and the popularity of the centrist president revealing signs of recovery, he has made it clear that he intends to carry out a series of measures, some potentially explosive, that have come to a standstill while he has survived the disturbances. "

In an important speech to Parliament on Wednesday, his Prime Minister Edouard Philippe outlined the reform roadmap for the second half of the five-year presidency, including a commitment of tax cuts of € 27 billion by the end of his term term in 2020. "It's massive 'It's clear and simple,' he told MPs during a one-hour speech.

He also pledged to revise the generous but complex and heavily indebted pension system in France and encourage the French to retire later. "As the President said, we have to work longer," Philippe said. "We retain the ability to retire at the age of 62, but we will define a pivot age and incentives to work longer," he said.

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