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French lawmakers spare pensioners from cuts as budget review begins
The committee rejected a plan to trim the allowance ceiling from €4,439 to €3,000 as Lecornu seeks €43 billion in savings.
- French lawmakers began their 2027 budget review on Wednesday, immediately scrapping a planned reduction in a tax break benefiting pensioners.
- Prime Minister Sebastien Lecornu seeks to cut France's budget deficit from 5.4% of economic output this year to 5% next year amid a global bond market selloff, pushing a €43 billion savings package.
- The rejected proposal aimed to lower the effective ceiling on the 10% pension allowance from €4,439 to €3,000, which officials framed as covering 'professional expenses.'
- National Rally lawmaker Claire Marais-Beuil opposed the measure, stating, 'We oppose that the consolidation of the public accounts is done on the backs of retirees,' as pensions reach €436 billion next year.
- The government also intends to raise pensions below the rate of inflation, a move expected to save €4.1 billion, though politicians remain wary of curbing purchasing power among older voters who consistently turn out in high numbers.
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