Overview

• Prime Minister Michel Barnier's budget proposal focuses on reducing France's public deficit, which has reached 112% of GDP.
• The plan includes €41.3 billion in spending cuts and €19.4 billion in tax increases, targeting large companies and wealthiest households.
• Critics on the left argue that the austerity measures will lead to economic recession and increased hardship for ordinary citizens.
• Business leaders express concerns over potential impacts on competitiveness, urging for more structural reforms and less taxation.
• The government may need to use a constitutional mechanism to pass the budget, facing opposition from a fragmented National Assembly.