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34m ago

Bayrou Calls Sept. 8 Confidence Vote on €44 Billion Cuts as Opposition Hardens

Opposition parties signal they will vote him down, making a government collapse more likely.

French Minister for Economy, Finance, Industrial and Digital Security Eric Lombard talks to journalists after a meeting with French Senators about French government's budgetary orientations for 2026, at the Bercy Economy and Finance Ministry in Paris, France, July 24, 2025. REUTERS/Gonzalo Fuentes/File Photo
Olivier Faure, First Secretary of the French Socialist Party, attends a demonstration organised by the CGT Spectacle labour union to denounce budget cuts in the cultural sector, in Avignon, France, July 16, 2025. REUTERS/Manon Cruz/ File Photo
French Prime Minister Francois Bayrou gestures during a news conference to present his first budgetary orientations for 2026, in Paris, France, July 15, 2025. REUTERS/Abdul Saboor/File Photo
French Prime Minister Francois Bayrou leaves following the weekly cabinet meeting at the Elysee Palace in Paris, France, July 16, 2025. REUTERS/Abdul Saboor/File Photo

Overview

  • Prime Minister François Bayrou set a Sept. 8 confidence vote to seek backing for his austerity plan aimed at reining in a deficit that reached 5.8% of GDP last year.
  • National Rally, France Unbowed, the Greens and the Socialists said they will vote against the government, stripping Bayrou of a plausible path to a majority.
  • The package targets roughly €44 billion in savings, including scrapping two public holidays and freezing welfare spending and tax brackets in 2026 at 2025 levels.
  • Street action is building with taxi drivers planning protests on Sept. 5 and broader demonstrations called for Sept. 10 by leftist parties and some unions.
  • Markets turned lower after the announcement, with the CAC 40 down about 1.6% and French bond spreads widening by roughly 5 basis points; if the vote is lost, the government falls and President Emmanuel Macron must decide on a successor, a caretaker setup or snap elections.