Overview
- The Senate approved its version of the 2026 state budget by 187–109, sending the text to a 7‑deputy, 7‑senator joint committee for negotiations on Friday.
- A government tally presented to senators now pegs the 2026 public deficit near 5.3% of GDP, above the sub‑5% goal, with some reports citing 5.4%.
- The National Assembly is expected to definitively pass the Social Security budget on Tuesday after tight votes, including a €4.5 billion transfer from the state to the Sécu.
- Senators scrapped the planned surtax on large companies and sharply narrowed the proposed levy on holdings, reducing expected revenues and complicating deficit reduction.
- If the joint committee fails or its compromise is rejected, options include a special continuity law in late December or using 49.3, which the prime minister resists as Socialists warn of a censure risk.