Don't look to François Hollande for inspiration, Ed

The French Socialist leader is a throwback, not a pioneer.

On Wednesday, François Hollande’s budget announced the doubling of a tax already planned by Nicolas Sarkozy, giving a sliver to the state of certain transactions executed in financial markets. So what, you say. Banks can afford it, can’t they? Besides, they messed up: they should pay. But it’s not that simple: like VAT or any other sales tax, the cost is simply passed on to the buyer; a paltry half-billion euros will be raised annually and the law is full of loopholes. Plus, the original Sarkozy tax was only scheduled to come into force the same day, so no-one yet knows what the effects are.

Clearly, there is a political point being made that banks must pay for their sins, but: at what cost? The advantages of a financial transactions tax are unproven, to say the least. At best, it seems like posturing: at worst, it adds to the cost of companies, and the country, raising capital, affecting growth and competitiveness. Plus, with a unilateral move, there is always the danger that people will simply take their business elsewhere, which is why no-one here – not even Miliband –  is suggesting such a unilateral tax for the City, a financial centre which easily dwarfs Paris.

Perhaps, then, it’s a good moment to take a closer look at the Hollande administration. He has, at least, one sensible positive: his belief that growth is the key rather than austerity. Good. However, unlike the UK, Eurozone rules cap his borrowing, meaning next year he needs to make €33bn of cuts. So one wonders how he can fulfil pledges which require him to spend to achieve that growth.

Then there’s his manifesto proposal for a 75 per cent “super tax” for earnings over €1m, a move not seen in Britain since the days of Denis Healey (that said, his own advisor, Harvard’s Prof. Philippe Aghion, admits it was probably just an electoral sop to the left that he didn’t really mean). But many suggested that Hollande’s manifesto largely comprised things he would not really implement, and which he now has. And these are nothing compared to Hollande’s decision to lower the national retirement age from 62 to 60, which gives an insight into some very flawed thinking, because it doesn’t seem to make sense at the level of basic maths. The explanation is quite simple and goes like this:

If I pay a portion of my salary towards a pension, I create a pot, which the government looks after for me. When I retire, that pot buys me a pension until I die, the level of which depends on the size of the pot. Four things determine the size of my pot: the percentage I pay in from my salary; the number of years; the amount I work each year (working hours, holidays, and so on); and the fourth and final thing is the number of years I’m likely to live – the more years, the bigger pot I’ll need.

The problem is in the fourth factor. Most national pension systems in the western world are broke, and are on the verge of not being able to pay out to all the pensioners. They didn’t quite count on so many people staying alive so long, so they under-provided. Most governments are therefore trying to find ways to fund the “pensions time-bomb”, by getting more money into each person’s pot.

So, what you’ve got to do is change one of the first three factors. But in France, the amount you work each year is already fixed at a relatively low level, because of its uniquely-constricting thirty-five hour week and generous statutory holidays. Then there’s the number of years you work, which in France we have just reduced by two. That leaves only one thing: to increase national insurance; raise taxes on those who are working to pay for those who aren’t – which is not really sustainable (particularly during an economic crisis). For this reason, policymakers worldwide are accepting an inevitability: people will have to work longer.

Ah, but not in France. Not in the homeland of Lagrange, Fourier and Descartes, where mathematics nowadays apparently work differently. Or rather, the raising of pensionable age makes no sense at all, because sooner or later the government will have to reverse it, as will all governments. And, in the meantime, it makes the ticking time-bomb worse. It is a sweetie, handed out to make people feel better: Hollande will give you a sweetie today, but some future government will need to take it back tomorrow twofold.

What is most disappointing for the left about Hollande, then, is that he seems much less the avant-guardiste of a new paradigm for the left, than a throwback to old, ostrich-like ways of the 1970s. It fits, too, because France itself has traditionally been the last big country in the west to accept realities such as flexible labour markets and the death of trade protectionism, as global business moves east.

The danger for Hollande, in short, is that he could end up like Spain's “Crisis? What crisis?” Zapatero, someone many on the left also had high hopes for, and whose career ended in ignominy as he was ultimately forced to take back all the sweeties. Miliband was politically astute in taking advantage of the apparent lack of connection between Hollande and Cameron, and right in going to Paris to make common cause with practically the only socialist premier left. But that, perhaps, should be as far as it goes.

Rob Marchant is an activist and former Labour Party manager who blogs at The Centre Left

French President François Hollande welcomes Labour leader Ed Miliband before a meeting at the Elysée Palace in Paris. Photograph: Getty Images.
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Who's winning the European referendum? The Vicar of Dibley gives us a clue

These polls seem meaningless, but they reveal things more conventional ones miss.

At the weekend, YouGov released some polling on 30 fictional characters and their supposed views on Brexit.  If you calculate a net pro-Remain score (per cent thinking that person would back Remain minus the per cent thinking they’d vote for Leave), you have a list that is topped by Geraldine Granger, the Vicar of Dibley (+21), and ends with Jim Royle (-38).

It’s easy to mock this sort of thing, and plenty did: “pointless”, “polling jumping the shark”, and so on. Some even think pollsters ask daft questions just to generate cheap headlines. What a cynical world we live in.

But the answers to those questions tell you quite a lot, both about the referendum campaign and about voters in general.

For one thing, most of the fictional characters that people saw as voting to Remain are (broadly) nice people, whilst the Outers included a fair few you’d not want to be stuck in a lift with, along with other chancers and wasters. On one side, you have the Vicar of Dibley (+21), Mary Poppins (+13), Miranda (+11), and Dr Who (+9) taking on Hyacinth Bucket (-13), Tracy Barlow (-15), Del Boy (-28), and Basil Fawlty (-36) on the other. This isn’t really much of a contest.

Obviously, some of these are subjective judgements. Personally, I’d not want to be stuck in a lift with the Vicar of Dibley under any circumstances – but she’s clearly meant to be a broadly sympathetic character.  Ditto – with knobs on – Miranda. And yes, some of the Outer characters are more nuanced. Captain Mainwaring (-31) may be pompous and insecure, but he is a brave man doing his best for his country. But still, it’s hard not to see some sort of division here, between broadly good people (Remain) and some more flawed individuals (Out).

So, on one level, this offers a pretty good insight into how people see the campaigns.  It’s why polling companies ask these sort of left-field questions – like the famous Tin Man and Scarecrow question asked by John Zogby – because they can often get at something that normal questions might miss. Sure, they also generate easy publicity for the polling company – but life’s not binary: some things can generate cheap headlines and still be interesting.

But there are two caveats. First, when you look at the full data tables you find that the numbers saying Don’t Know to each of these questions are really big– as high as 55 per cent for both Tracy Barlow and Arthur Dent. The lowest is for both Basil Fawlty and Del Boy, but that’s still 34 per cent. For 26 out of the 30 characters, the plurality response was Don’t Know. The data don’t really show that the public think Captain Birdseye (-11) is for Out; when half of all respondents said they don’t know, they show that the public doesn’t really have a clue what Captain Birdseye thinks.

Much more importantly, second, when you look at the cross breaks, it becomes clear how much of this is being driven by people’s own partisan views. Take James Bond, for example. Overall, he was seen as slightly pro-Remain (+5). But he’s seen as pro-Brexit (-22) by Brexit voters, and pro-Remain (+30) by Remain voters.

The same split applies to Dr Who, Postman Pat, Sherlock Holmes, Miranda, and so on.

In fact, of the 30 characters YouGov polled about, there were just eleven where respondents from both sides of the debate agreed – and these eleven excluded almost all of the broadly positive characters.

So, here’s the ten characters where both Remain and Leave voters agreed would be for Brexit: Alan Partridge; Jim Royle; Del Boy; Hyacinth Bucket; Pat Butcher; Tracy Barlow; Captain Mainwaring; Catherine Tate’s Nan; Cruella De Vil; and Basil Fawlty.

That’s not a great roll call. And it must be saying something that even Outers think Cruella De Vil, Alan Patridge, and Hyacinth Bucket would be one of theirs.

Mind you, the only pro-Remain character that both sides agree on is Sir Humphrey Appleby. That’s not great either.

For the rest, everyone wants them for their own.

So what about those who say they don’t yet know how they will vote in the referendum? These might be the key swing voters, after all. Maybe they can give a more unbiased response. Turns out their ranking is broadly similar to the overall one – with scores that are somewhere between the views of the Outers and the Inners.

But with this group the figures for don’t knows get even bigger: 54 per cent at a minimum, rising to a massive 77 per cent for Arthur Dent.

And that’s because, lacking a partisan view about the referendum, they are not able to project this view onto fictional characters.  They lack, in the jargon, a heuristic enabling them to answer the question. Which tells you something about how most people answered the questions.

Philip Cowley is Professor of Politics at Queen Mary University of London.