Hold onto your coffee cups! ☕️ France’s Socialist MPs just turned up the heat in budget talks, warning they’ll bring down Prime Minister Sebastien Lecornu’s minority government unless billionaires pony up more tax by Monday. 💼💸
Socialist leader Olivier Faure told BFM TV, “We’ve tried to stay cool, but we haven’t seen any willingness to compromise. If there’s no change by Monday, it’s over.” In other words: time’s up!
So why the standoff? France’s parliament is split down the middle: Lecornu’s coalition doesn’t have enough seats, so he needs support from other parties to pass any laws. The Socialists can join forces with either the far left or the far right—both eager to oust him—to make it happen.
Earlier, Lecornu won Socialist backing by scrapping a major pension reform. But now the left wants more: a “billionaires’ tax” worth €15–20 billion to ease the burden on retirees, young people, and families. Their argument: why should everyday folks keep sacrificing while the ultra-rich sit pretty?
And there’s more at stake than just political bragging rights. France’s economy is already showing signs of strain—business activity dipped faster than expected in October. Ratings agencies like S&P and Moody’s are flirting with downgrades, which could make borrowing more expensive and ripple across global markets.
The next big milestone is the November 4 vote on the income side of the 2026 budget in the National Assembly, before it heads to the Senate. Lecornu needs to squeeze over €30 billion out of next year’s budget to shrink France’s deficit to 4.7% of GDP. Can he pull off this balancing act?
For young pros keeping an eye on global trends, this showdown in Paris shows how budget deals directly shape the future—from pension plans to job markets and taxes. Stay tuned: this fiscal soap opera is far from over. 🎬
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France's Socialists threaten to oust government amid budget talks
cgtn.com
