The French government has unveiled its 2025 budget plan, aiming to stabilize the nation's finances through a mix of spending cuts and increased revenues.

The plan, presented by Prime Minister Michel Barnier, targets a reduction of the public deficit to 5% of GDP by 2025. Key measures include cutting public spending by €41.3 billion and raising an additional €19.3 billion through new taxes.

These taxes will primarily affect large corporations and high-income households, with a notable €8 billion contribution expected from major businesses.

Additionally, the government plans to reduce the number of public sector employees by 2,200 positions.

Despite these efforts, the High Council of Public Finances warns of significant risks in achieving the deficit target, citing optimistic assumptions.

The budget proposal faces a challenging path through Parliament, with debates expected to be contentious.