"The Prime Minister, Sebastien Lecornu, was given little chance of survival, let alone finding a budget deal, when he was appointed for a second time in October. He deserves some credit for backing the heavy truck of the French political system out of a cul-de-sac (English for voie sans issue). Otherwise, what have we learned? That France still refuses to face up to a deficit crisis a half-century in the making;"
"To pass a 2026 budget, Lecornu had to cast aside almost anything that resembled a sacrifice for poor, middling or rich voters. READ ALSO The abolition of two bank holidays proposed by his predecessor, Francois Bayrou? Outrageous. An increase in the small public contribution to the cost of medicines? Unthinkable. A freeze in the inflation-linking of income tax bands for one year? A disgrace. Making rich pensioners pay more tax? Abominable."
Sebastien Lecornu secured passage of a budget through compromise and concession, stabilizing the government but sacrificing deficit reduction measures. He is likely to remain prime minister until spring 2027. France still refuses to confront a half-century deficit crisis and no serious attempt to address the 3.2 trillion-euro debt will occur before the 2027 presidential election. To obtain passage he abandoned proposals affecting all income groups, halted a retirement-age increase from 62 to 64, and rejected a tax on capital holdings. The final compromise removed significant deficit-cutting reforms, leaving the underlying fiscal challenge unaddressed.
Read at www.thelocal.fr
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