France’s government has said its 2025 belt-tightening budget was necessary to rein in its “colossal” debt burden as it faced criticism from the right and left for demanding unfair sacrifices on the French.
The government’s 2025 budget, delivered on Thursday, contained plans for 60 billion euros of spending cuts and tax hikes focused on the wealthy and big companies to tackle a soaring fiscal deficit.
Hard right lawmaker Jean-Philippe Tanguy described the budget as a horror gallery from finance ministry technocrats, but finance minister Antoine in an interview stated that the country is facing a spiralling deficit, and the government must act to regain control over its debt and its deficit.
The budget bill could get a rough ride in parliament from opposition parties and prime minister Michel Barnier may need to use special constitutional powers to bypass parliament, although that would probably prompt a no-confidence motion.
