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French Government Launches Talks on 40 Billion Euro Savings Plan for 2026

The initiative aims to reduce the public deficit to 4.6% of GDP, sparking political tensions and threats of censure from opposition parties.

Budget: «Nous manquons de ressources car notre pays ne produit pas assez», affirme François Bayrou
«On est en situation d’urgence budgétaire», martèle le président du Medef Patrick Martin.
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Le Premier ministre François Bayrou et la ministre des Comptes publicss Amélie de Montchalin, lors d'une conférence de presse à Paris, le 15 avril 2025

Overview

  • The French government has proposed a 40 billion euro savings plan to lower the public deficit from 5.4% of GDP in 2025 to 4.6% in 2026.
  • Prime Minister François Bayrou convened a 'Comité d’alerte sur le budget' on April 15, bringing together parliamentarians, social partners, and local representatives to discuss potential measures.
  • Key proposals under consideration include taxing high incomes, adjusting retirement benefits, reducing state agency expenditures, and increasing efficiency in public spending.
  • Opposition groups, including the left and Rassemblement national, have threatened motions of censure, criticizing the government for potentially burdening citizens without targeting wealthier groups.
  • Stakeholder consultations are expected to continue for several months, with no immediate announcements, as the government seeks consensus on implementing the savings plan.