Saturday, February 4, 2023

French President Emmanuel Macron in criminal inquiry over claims of favours to McKinsey



McKinsey’s Paris places of work have been raided by police in Could whereas the probe was nonetheless centered on whether or not the US consulting agency paid any French company taxes in the previous decade regardless of incomes hundreds of thousands of euros on authorities tasks.

The corporate, which has persistently denied any wrongdoing, has mentioned it adheres to French tax legal guidelines and was stunned by the concentrate on the corporate, contemplating it earned simply 1 per cent of all spending on consultancies by the nation’s administrations.

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The probe follows a prolonged controversy over Macron’s ties to the US consulting big, dubbed “McKinseygate”, over the use of costly and overseas corporations that specialise in strategic recommendation and IT companies.

The MacronLeaks – inner emails from the En Marche marketing campaign made public a number of days earlier than the primary spherical of the 2017 presidential election – revealed that a number of senior McKinsey figures have been concerned in strategic conferences with the Macron staff.

The controversy deepened when Paris-based newspaper Le Monde reported that a minimum of 10 of McKinsey’s consultants had labored on Macron’s 2017 manifesto. McKinsey is alleged to have helped him once more when he gained re-election this yr.

A report revealed by a French Senate committee in March confirmed that Macron’s authorities had paid non-public consultants €2.4 billion ($3.7 billion) for stories and recommendation since 2018. McKinsey did notably nicely, incomes, for instance, €957,674 to advise on a pension reform plan that was finally dropped, €496,800 to define the “future of educating” for the schooling ministry, €3.9 million to assess a housing profit reform, and €12.33 million to assist ministers in the course of the pandemic.

Macron on the time rejected allegations of illicit collusion with McKinsey when the scandal erupted throughout his re-election marketing campaign.

France has strict guidelines on marketing campaign financing that place limits on what a candidate is allowed to use, with a number of French politicians convicted over the years for overspending or making an attempt to disguise marketing campaign spending, together with late former president Jacques Chirac.

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