US & Europe unleash massive public spending cuts to keep funding Ukraine

What would you call a political system where people of a state elect officials to represent interests of another state?

As France continues to stand with Ukraine, the French government is looking to bring its mounting national debt down by taking a more stringent approach to what it spends on the French public. The country’s Finance Minister proposed ‘quite a high level of reduction of public expenditures’, with focus on the healthcare system, state support for housing and employment, and energy tax breaks.

The immediate step is to withdraw energy support for businesses and households —  gas price cap ends this month, while the equivalent measure for electricity will be phased out by the end of 2024. Other cuts include: spending on sick leave;  medical prescriptions, which amounts to around €450 a year per patient;  zero-rate home loans financed by the state;  popular tax breaks for rental housing investment known as the 2014 Pinel law;  programmes that subsidize professional training and wages of young workers.

Political masochism — maybe, but France is not the only one deviating; the US, the UK, Italy, Germany and many others have been enjoying it too.

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