Lower thirds:

00:02 Report by Lisa Louis
00:26 Joel Tanguy | CTM Laser general manager
01:02 Joel Tanguy | CTM Laser general manager
01:38 Philippe Crevel | Economist, Cercle de l’Epargne
02:09 Joel Tanguy | CTM Laser general manager

SCRIPT:

This welding company has more than doubled its turnover since 2017 -- to almost seven million euros. It recently invested in two new machines and increased its number of staff. But France’s political instability is casting a shadow over any future plans.

0’22 – 0’40 (in picture from 0’24 on)

SOT – Joel Tanguy, General Manager CTM Laser

We need to know where we’re going. The government had decided it wanted to reindustrialize France. If these subsidies are now cut, we might not make additional investments. Until now, we also had financial aids to employ apprentices, who are crucial for our company.

The mid-sized business supplies parts to companies in the aeronautics, automotive and spatial sectors. But its clients have reduced their orders since December, when a another previous government was ousted over a budget vote – ringing in the current period of political instability.

1’00 – 1’16

SOT – Joel Tanguy, General Manager CTM Laser

When we saw the orders go down, we had no other choice but to adapt our strategy. In the past, we could survive on orders automatically coming in. Now, we’ve assigned people to actively try to find new clients and sectors.

France’s political turmoil has more wide-ranging repercussions. The number of bankruptcies has gone up, growth is sluggish. Meanwhile, the country’s public debt now amounts to more than 110 percent of GDP – which limits the government’s agency, says economist Philippe Crevel.

1’36 – 1’58

SOT – Philippe Crevel, Economist Cercle de l’Epargne

The French are saving 19 percent of their available income compared with 15 percent before. But consumption makes up for between 60 and 64 percent of our GDP. If consumption decreases, economic growth slows down. What’s more, households and companies have also been making fewer investments.

As France is taking to the barricades, the entrepreneur fears one day of protest could turn into a prolonged period of strikes.

2’08 – 2’20

SOT – Joel Tanguy, General Manager CTM Laser

The last thing we need is protesters blocking our country. After all, we have to pay wages and for that, we need to keep producing and selling our products.

He’s hoping France will soon manage to rein in its public debt – to avoid a recession. So that businesses like his can continue to expand.

End of track: 2’34

Last pic: 2’38