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French Parliament Passes Controversial Social Security Budget with Left's Support

The amended budget, which introduces significant tax increases, was approved despite opposition from the majority and abstention by the National Rally.

  • The budget proposal includes an additional 17 to 20 billion euros in taxes, primarily targeting capital income and dividends.
  • Left-wing parties managed to pass the budget by forming unexpected alliances, while the National Rally abstained to allow further debate.
  • The government criticized the budget as lacking political and budgetary seriousness, claiming it unfairly targets the working middle class.
  • In a symbolic victory, the left successfully amended the retirement age increase, reverting it from 64 back to 62.
  • The government may invoke Article 49.3 to push through its preferred amendments, as the legislative process continues.
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