Logo

France News Today

French news in English

Thursday, October 17, 2024

France's Budget Battle: A Nation Divided

Published: 2024-10-10

In France, a fierce debate over the 2025 budget is unfolding, with Michel Barnier's proposed austerity measures facing strong opposition.

Valérie Pécresse, President of the Île-de-France region, supports Barnier's plan, which aims to save 60 billion euros through spending cuts and tax hikes.

She describes it as a necessary, albeit unpopular, step to prevent the country's financial collapse.

Meanwhile, the left-wing coalition, the Nouveau Front Populaire (NFP), is rallying against this "austere" budget.

They propose alternative measures targeting the wealthy and large corporations, aiming to generate 49 billion euros in new revenue.

Their plan includes a climate wealth tax and increased taxes on financial transactions and superdividends.

As the government prepares to present the budget, both sides are gearing up for intense debates, highlighting the deep political and economic divides in France.