Source: Financial Times [UK]
“French Prime Minister François Bayrou has proposed a broad spending freeze for next year and scrapping two national holidays, putting his political survival on the line to narrow the deficit. In a press conference on Tuesday, Bayrou unveiled the outline of a 2026 fiscal package of €44bn in tax rises and spending cuts, including curbs to pensions and social welfare benefits and a not yet defined ‘solidarity contribution’ from the wealthy. … Only defence spending has been spared amid rising threats from Russia. President Emmanuel Macron instructed Bayrou to put through a roughly 10 per cent increase for the military in the next two budget cycles, or about €6.5bn. Many of the proposed measures have come under fire from leftist and far-right opposition parties. They are already threatening to topple the government over what they call an austerity budget that would hit poor people, workers and retirees.” (07/16/25)