Despite good news on the economy, particularly an annual rise in GDP of 2.5 percent, French President Emmanuel Macron’s popularity is plunging, according to an opinion poll by Kantar Sofres-onepoint commissioned by le Figaro Magazine.
The President’s popularity now stands at 38 percent, down from 57 percent in June. The fall in support uncannily mirrors the shrivelling support for Macron’s predecessor, Francois Hollande, who saw his support fall from 55 to 36 percent over six months in 2012.
According to analysts, the precipitous fall in support for Macron is due to growing mistrust by right-wing supporters. The President has been strongly opposed by the political Left since before the start of his presidency. The socialist Jean-Luc Melenchon has made the epithet “President of the rich” a difficult label to shrug off.
Now, those on the political Right also feel threatened as the French government announced several tax hikes. According to the international Tax Foundation, France has introduced a number of reforms that have significantly increased marginal tax rates on work, savings, and investment. For example, France recently instituted a corporate income surtax, which joined other distortive taxes, such as the financial transactions tax, a net wealth tax, and an inheritance tax.
If his popularity continues to plunge, Macron’s election slogan, ‘Together France,’ may become a distant memory, as he continues to come under fire from left and right.