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2h ago

French Budget Race Tightens After Senate Finance Chief Warns Year-End Passage Is 'Compromised'

Article 47’s 70‑day clock makes an October 13–14 filing the last realistic window for adopting the 2026 finance bill by December 31.

Selon l’article 47 de la Constitution, le Parlement dispose d’un délai de 70 jours pour examiner le projet de loi de finances: 40 jours sont consacrés à la première lecture à l’Assemblée nationale, puis 20 jours au Sénat, et enfin 10 jours pour les derniers échanges entre les deux chambres.
Selon l’article 47 de la Constitution, le Parlement doit disposer d’un délai de 70 jours pour l’examen du budget.
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Overview

  • Sébastien Lecornu has formed a new government and is working to table the 2026 budget by Tuesday as La France Insoumise and the Rassemblement national prepare censure motions.
  • Lecornu has eased the fiscal path from François Bayrou’s 4.6% deficit and €44 billion in savings toward a target under 5% with 6–9 billion euros less in cuts, a shift economists say could challenge EU commitments and raise borrowing costs.
  • Senate finance commission president Claude Raynal warns that on-time adoption now looks unlikely and details fallback options, including passing only the revenue section, a special tax‑collection law with monthly spending decrees, applying the bill by ordinance, or operating on services votés.
  • Without a voted budget, the state cannot legally levy taxes or authorize new spending unless Parliament adopts exceptional measures.
  • Analysts and business leaders caution that entering 2026 without a budget could freeze planned measures, muddle tax rules, deter hiring, and inflict losses estimated up to €11 billion, with past dissolutions cited as having cost about €15 billion.