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France Restarts 2026 Budget Talks as Bercy Meeting Reaffirms 5% Deficit Goal

Socialists press for new revenues and float a surtax on big companies, while Greens and Communists stay out and the government keeps 49.3 in reserve.

Overview

  • The Economy Ministry hailed more than four hours of talks with the presidential camp, the PS and parts of the right as "very constructive," saying attendees backed the 5% deficit target.
  • The PS demands roughly €10 billion in additional measures and indicates it would at best abstain on the state budget.
  • Reintroducing a surtax on very large companies is under active discussion as a possible cornerstone of a fiscal compromise.
  • Parliamentary work resumes with the finance committee on 8–9 January and a plenary reading from 13–23 January, while a temporary special law keeps spending constrained and ministers call the current 5.3–5.4% deficit unacceptable.
  • On the right, LR leader Bruno Retailleau outlined proposals to move beyond the 35-hour norm, create a work‑conditioned RIA to replace the RSA, and tighten unemployment insurance, fueling 2027 speculation as polls put him near 8%.