Overview

• Michel Barnier plans to present a comprehensive five-year reform plan in the coming weeks, building on his recent general policy speech.
• Facing budgetary challenges, Barnier seeks to find a 'center of gravity' for fiscal policies while maintaining France's attractiveness achieved under Emmanuel Macron.
• The reform plan will draw on ideas from the 2019 Gilets Jaunes crisis, as Barnier has instructed his team to review the citizen complaints from that period.
• Barnier emphasizes practical projects over large-scale legislation, with a focus on simplification, decentralization, and more effective tax policies.
• The government faces potential delays in passing the 2025 budget, with a crucial vote possibly postponed due to numerous amendments and lack of a parliamentary majority.