France Faces Budget Crisis with Planned Tax Increases
Prime Minister Michel Barnier aims to reduce the deficit through temporary tax hikes on big companies and the wealthy, amid political and economic challenges.
- France's budget deficit is expected to exceed 6% of GDP, prompting urgent fiscal measures.
- Prime Minister Barnier plans to raise taxes on approximately 300 companies with annual revenues over €1 billion.
- Additional tax increases will target the wealthiest households, defined as those earning over €500,000 annually.
- The government aims to reduce the budget deficit to 5% next year, with a mix of spending cuts and tax hikes.
- Barnier's budget faces opposition in a divided parliament, with potential no-confidence votes looming.
Deutsche Welle 
