This morning, during the Royal Assembly's daily legislative meeting on economic reform, High Chancellor Juliette Valence
attended the meeting to explain her vision on the nation's future regarding economic growth. In her speech, the High Chancellor
explained her intentions on moving away the nation's economic focus. Valence noted that the country needed to acknowledge
the weaknesses of the laissez-faire systems that have led the nation to economic crises in the past. More recently, she noted
that the Deltarian economic crisis, based on the ideas of a free market system, failed the nation and caused a crisis felt around
the globe. Valence concluded that these economic systems also did more harm than good.
"These policies may help our
immediate economy and the stock market, but what will they do for the people in the long run?", Valence explained after
she introduced the idea of seeking new economic alternatives. Valence explained that the nation and its economy needed to
grow in a "humanitarian" way where the nation's residents would grow and the quality of life would as well. Valence thoughtfully
noted that in market economies
"based on de-regulation, corporations come before the people". To change this way of
growth and focus more on the development of the people and the environment, Valence began drafting proposals with the Royal
Ministry of Economic Development to create a new economic policy for Lourenne. The new policy dubbed the 'Valencienne
Economic Policy' after the High Chancellor, proposes economic growth through a regulated economy that places importance on
the development of the nation's residents over a long period of time. The new policy also champions the idea of cooperation
within the Lourennais economy to ensure that common resource issues are met and resolved. Many of the deputies in the Royal
Assembly concluded that the Valencienne Economic Policy resembled aspects of a social democratic-mixed economy. However,
Valence clarified that the economic policy would focus on putting the nation's people over the nation's corporations, and using
cooperation between corporations and the government to improve impoverished regions. Tax policy under the Valencienne policy
calls for an increase in taxes for the nation's wealthiest individuals while keeping taxes low for the nation's low-income individuals
and families. Corporations in the nation would be given room to grow and re-establish themselves, but they will be expected to
comply with stringent government labor and wage laws. High Chancellor was applauded by most members of the Royal Assembly
upon ending her speech. She expects to pass legislative reforms in the chamber as soon as she works out the details with the
Ministry of Economic Development. Renewable Energy, Tax reform, labor reform, and healthcare are the forefront issues under
the new Valencienne economic reform.