BFMTV had previously reported that the administration of President Emmanuel Macron would not increase spending by 2.5% as originally envisaged in the draft budget, and now the President of the Senate, Gérard Larcher, the President of the National Assembly, Yaël Brun-Bevit, and the heads of the two chambers have jointly decided to abandon raising public funding for work. Both Houses of Parliament (by 1.7% in 2025).
This came in a statement published on Yael Bron-Pevih’s page on the X social networking site, where the statement continues that Parliament is also taking measures to improve the financial health of the treasury.
French Prime Minister Michel Barnier had previously said that the authorities plan to reduce government spending by 40 billion euros in 2025, with plans to obtain 20 billion euros in 2025 as part of tax increases.
He stated that the authorities intend, through contributions from wealthy citizens and major companies, to reduce France’s national debt, which has reached 3,228 billion euros (112% of GDP), which is the reason for France’s weak positions in Europe. He said he plans to reduce the budget deficit from the expected 6.1% to 5% of GDP in 2025, and 3% of GDP by 2029.
The French authorities also stipulated in the draft 2025 budget law to postpone raising pensions to take into account inflation for a period of 6 months, until July 1.
Source: Novosti
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