Hey fam, France's budget talks are heating up 🔥! The Socialist party just warned they will file a no-confidence vote by Monday if billionaires don’t pay more tax 💸.
Socialist leader Olivier Faure told BFM TV that working-class folks, young people, and retirees are unfairly squeezed under the current plan. He wants the richest to chip in an extra 15–20 billion euros to balance the 2026 budget 🔍.
This threat puts serious pressure on Prime Minister Sebastien Lecornu's minority government. He already lost some support by scrapping a big pension reform, but the left believes they can score bigger wins at the tax table.
Why does this matter? France's divided parliament means the Socialists could join forces with outsiders to topple the government. And with business activity slipping faster than expected 📉, and Moody's eyeing a debt downgrade, the stakes are sky-high.
Lecornu wants to shrink the budget gap by over 30 billion euros next year and get the deficit down to 4.7 percent of GDP. But opponents say asking everyday people to tighten their belts while the wealthy skate by is just not fair ⚖️.
Keep an eye on November 4 — that’s when the National Assembly will vote on the income part of the budget. If talks stall, we might be on the brink of a full-blown political shakeup in Paris 🗼.
Reference(s):
France's Socialists threaten to oust government amid budget talks
cgtn.com
