The prospect of the hard-left France Unbowed party taking control of Toulouse, France’s fourth-largest city and home to Europe’s best-known airplane maker, is putting industry on edge.

It’s not just that a win in the second round of local elections Sunday could give the party’s anticapitalist leader, Jean-Luc Mélenchon, a major boost ahead of next year’s presidential election. That’s a concern for later.

The immediate fear is that if France Unbowed makes history here — the party has never come close to controlling such a big metropolis — it will heap taxes on local icons like Airbus to pay for a generous manifesto that includes water subsidies, free public transport for residents under 26 years old, and free school meals and educational supplies.