Focus Europe: Push and pull: France, RN, and the challenges of political change - Part 2: The policy agenda

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Focus Europe: Push and pull: France, RN, and the challenges of political change - Part 2: The policy agenda

Deutsche Bank

Research

Economics Date

Focus Europe 5 July 2026

Push and pull: France, RN, and the challenges

Yacine Rouimi of political change - Part 2: The policy agenda

Senior Economist

+44-20-754-71014

In Part 1 of this three-part series, we established that Rassemblement National

(RN) has a credible, if constrained, path to power. In Part 2 we analyse the RN Mark Wall

platform and what it could realistically deliver. Chief Economist

+44-20-754-52087

Our central conclusion is that the RN platform has gradually evolved towards a

broad, electorally adaptable, but less internally consistent governing proposition. Clemente Delucia

Its room for manoeuvre would depend on the mandate it receives, the institutions +39-02-402-43012

it controls, the sequencing of decisions and willingness to compromise.

The platform has evolved selectively. On Europe, RN has abandoned withdrawal

from the EU and the euro in favour of challenging the European order from within.

The risk has shifted from “Frexit” towards obstruction, selective renegotiation

and discretion over migration, regulation and borders. On pensions, repeated

changes and disagreement between Le Pen and Bardella suggest that its

economic offer remains unsettled.

Other elements display much greater continuity. Immigration remains the

platform’s ideological anchor, centred on reducing migration and introducing

“national preference” in employment, housing and social benefits. Fiscal policy

remains focused on purchasing power through visible tax cuts and spending

commitments. RN’s economic posture is also not consistently deregulatory:

opposition to EU rules coexists with protectionism and a willingness to use the