France Plans €54 Billion Savings Drive as Protests Grow
Prime Minister Sebastien Lecornu says the cuts are needed to keep the 2027 deficit from rising above 6.5% of GDP.
- On Thursday, Prime Minister Sebastien Lecornu announced a €54 billion savings drive in the 2027 budget to stop the fiscal deficit spiraling out of control amid growing protests over high fuel prices.
- Finance Minister Roland Lescure acknowledged last Friday that fallout from the Middle East crisis meant the government would miss its 5% fiscal deficit target this year, with the 2027 deficit exceeding 6.5% of GDP without cuts.
- Amid rising cost-of-living concerns, workers from the power sector to police struck on Tuesday, while fishermen lifted Mediterranean port blockades on Thursday after three days of protesting fuel costs.
- Marine Le Pen said on Wednesday the RN would likely vote against the budget citing policy disagreements, while Socialist lawmakers ruled out support, leaving the budget's fate uncertain in parliament.
- With a presidential election looming next year, Lecornu's government races to finalize the budget bill, mindful that his two predecessors were toppled over previous budgets as bond market pressure mounts.
30 Articles
30 Articles
The Prime Minister has announced that he intends to save €54 billion in the finance bill he will present to Parliament.
The Prime Minister targets €54 billion in savings, but promises a copy "very far from austerity". Civil servants, pensioners, foreign nationals are involved.
The Prime Minister presented the outline of his budget copy in an interview at the "Figaro" on Thursday afternoon. "The state must be exemplary, and therefore start with itself," he said.
The Prime Minister announces a fiscal effort of €54 billion in the 2027 Finance Act to avoid a deficit of 6.5% of GDP.
France plans €54 billion savings drive as protests grow
By Leigh Thomas and Alexandre Dimou PARIS, Sept 17 (Reuters) - France's government plans to include a €54 billion savings drive in its 2027 budget to stop the fiscal deficit spiralling out of control, Prime Minister Sebastien Lecornu said on Thursday a...
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