Overview

• Prime Minister François Bayrou is contemplating a national referendum to legitimize a €40 billion savings plan targeting France's 2026 budget deficit.
• The plan focuses on reducing the public deficit below 3% of GDP through spending cuts and efficiency measures, avoiding new taxes.
• Bayrou emphasized the need for broad public support to ensure the success and durability of the proposed reforms.
• Under the French constitution, the government can propose a referendum, but President Emmanuel Macron holds the authority to call one; the Élysée has yet to comment.
• Opposition parties have threatened a no-confidence motion if the cuts proceed without direct public endorsement.