#2026-budget

#2026-budget

Monday Budget - Article 47 of France's Constitution gives MPs a maximum of 40 days to vote on the draft budget law in its first reading. This sets the deadline at midnight on November 23rd. However, the first formal vote on the entire budget is scheduled for Monday, November 24th, at 4pm. Strike - Not in France this time, but a three-day general strike in Belgium that is set to start on Monday could have knock-on effects, particularly in the far north of France, and affecting travel.

The French Socialist party says it will fight to introduce a flagship wealth tax to raise revenue by targeting France's richest people, as the divided parliament prepares to begin debating next year's budget. Boris Vallaud, the head of the Socialist party grouping in parliament, said on Wednesday that taxing very high-wealth individuals in France was one of our principal battles and we're going to put all our energy into it.

PM Bayrou is expected to lose, but a deadlock in parliament means France might struggle to find a replacement who can pass a budget aimed at cutting the deficit. The French government looks set to collapse in a vote of no confidence and tip the eurozone's second biggest economy into a political crisis. Prime Minister Francois Bayrou is expected to be ousted, casting doubt over President Emmanuel Macron's future. Monday's vote hinges on Bayrou's unpopular budget proposal for 2026, designed to slash France's fiscal deficit.

The Trump administration aims to reduce non-defense discretionary funding by $163 billion, targeting programs seen as aligned with 'woke' ideals and shifting responsibilities to states.