French Government to Present Law Addressing High Living Costs in Overseas Territories
The draft law, announced by Manuel Valls, aims to tackle economic disparities with measures to reduce import dependency, promote local production, and curb anti-competitive practices.
- Manuel Valls announced a comprehensive draft law to combat high living costs in French overseas territories, set to be presented before summer 2025.
- The law will focus on reducing reliance on imports, fostering local production, and integrating overseas territories into regional markets.
- Key measures include stricter sanctions for businesses failing to meet obligations and increased transparency in economic practices.
- The government pledged €10 million to support businesses affected by the 2024 protests over food prices in Martinique, which are often 40% higher than in mainland France.
- The draft law incorporates elements from previous legislative proposals by overseas parliamentarians to reflect local priorities.
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