Overview

• Bayrou’s administration proposes cutting at least €40 billion from the 2026 budget by freezing social benefits at last year’s levels.
• The draft plan would abolish Easter Monday and May 8 as statutory holidays and eliminate one in three civil service hires.
• Defense spending is protected under the measures and is set to rise from €50.5 billion in 2025 to €67.4 billion by 2030.
• France’s public debt has surged to 114 percent of GDP, underpinning the government’s push to comply with EU deficit ceilings.
• Major unions boycotted the budget announcement and both left-wing and Rassemblement National parties have revived no-confidence motions against Bayrou’s minority government.