Overview

• Les Républicains and the UDI ruled out joining the cabinet, with LR offering case‑by‑case support in Parliament, while MoDem seeks clarifications and Horizons withholds participation pending positions.
• The Socialist Party threatens immediate censure without the abandonment of 49.3, new purchasing‑power measures and a full, immediate suspension of the 2023 pension reform, as the rest of the left and the RN vow to topple the government.
• Emmanuel Macron’s planned trip to Egypt on Monday could prevent a Council of Ministers that day, prompting Lecornu to consider appointing only core portfolios, including Finance and Budget, to lodge the bill swiftly.
• The HCFP will issue its required opinion on Monday as a draft budget—described as adjustable—targets a 2026 deficit below 5% of GDP and includes state spending cuts, a production tax cut, a levy targeting certain holdings and a maintained surcharge on high earners.
• Cour des comptes simulations warn that suspending the pension reform could cost public finances up to €13 billion by 2035, while overseas officials, notably in Mayotte, warn delays could stall promised reconstruction and local funding.