Overview

• The current deficit stands at 5.8% of GDP, with Bayrou projecting 5.4% in 2025 and 4.6% in 2026 through targeted savings of about €40 billion.
• He ruled out a general tax increase, stating that deficit reduction will rely on spending cuts and only ‘‘efforts particuliers’’ in specific areas.
• Bayrou has declined to disclose detailed measures until the formal unveiling of his four-year recovery plan on July 15.
• The prime minister proposed a referendum allowing voters to choose whether to adopt proportional representation for legislative elections.
• He also signaled intent to create a ‘‘banque de la démocratie’’ backed by the Caisse des dépôts to provide state-sponsored financing for political parties.