French Government Unveils Controversial 2025 Austerity Budget

The budget aims to cut €60 billion through spending reductions and temporary tax hikes on businesses and the wealthy amid rising debt concerns.

• Prime Minister Michel Barnier's budget proposal focuses on reducing France's public deficit, which has reached 112% of GDP.
• The plan includes €41.3 billion in spending cuts and €19.4 billion in tax increases, targeting large companies and wealthiest households.
• Critics on the left argue that the austerity measures will lead to economic recession and increased hardship for ordinary citizens.
• Business leaders express concerns over potential impacts on competitiveness, urging for more structural reforms and less taxation.
• The government may need to use a constitutional mechanism to pass the budget, facing opposition from a fragmented National Assembly.

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