Macron to seize energy firms and ramp up defence spending to €50bn to boost France’s ‘independence’

He later confirmed he intended to raise the state’s stake in electricity utility EDF. France, which owns 84 per cent of EDF, had reportedly been mulling on reviving a plan to nationalise the debt-laden group and reorganise its business with a focus on nuclear production.

Last month, Mr Macron pledged tens of billions of public financing to help EDF build as many as 14 new reactors by 2050 to replace some of its ageing atomic plants. France would be the first in Europe to do without gas and petrol, he predicted.

‘High-intensity war’

Making France a more self-sufficient country in a “stronger Europe” will be a key objective, he said, listing proposals ranging from “investing massively” in France’s agricultural and industrial independence to strengthening the army.

On that topic, he said France was in line to increase defence spending to €50bn by 2025 and that he would push for a larger EU defence fund.

“We must reinforce our investment to be able to deal with a high-intensity war,” he said, adding that he wanted to double the number of reservists and create “strategic stocks” to make “the nation more resilient to crises”.

Mr Macron said the war in Ukraine had been an “electric shock” that proved the importance of the Nato military alliance but that he intended to push forward with creating a new “European security order”.

He countered claims that he was a “Jupiterian” president who calls all the shots, saying: “I don’t decide alone.” But he added: “The worst thing is indecision. If the French think I decided badly, they can decide to do without me.”

No debates

However, rival candidates say he is fleeing debate after his camp confirmed he would not take part in any before the April 10 first round and would likely hold only one or two rallies.

Gérard Larcher, the Right-wing head of the French Senate, this week warned: “The president wants to be re-elected without ever really having been a candidate, without a campaign, without a debate, without a competition between ideas.”

Polls suggest Mr Macron will coast into the runoff on around 30 per cent of the vote partly due to a “rally round the flag” effect to face nationalist leader Marine Le Pen, who has gained ground in recent days and could take around 18 per cent of the vote.

Her nearest competitors are Leftist veteran Jean-Luc Mélenchon, who appears to be gaining momentum, conservative runner Valérie Pécresse and far-Right rival Eric Zemmour, all on around 11-12 per cent.

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