The China Mail - French PM ends budget deadlock after no confidence motions beaten

USD -
AED 3.6725
AFN 63.51387
ALL 82.371399
AMD 367.851352
ANG 1.790403
AOA 917.498917
ARS 1483.9828
AUD 1.451126
AWG 1.8025
AZN 1.701175
BAM 1.714193
BBD 2.01284
BDT 123.126005
BGN 1.69088
BHD 0.376798
BIF 2974.065017
BMD 1
BND 1.293681
BOB 6.920579
BRL 5.176501
BSD 0.99936
BTN 94.548403
BWP 13.543977
BYN 2.929664
BYR 19600
BZD 2.00986
CAD 1.421765
CDF 2265.000327
CHF 0.809004
CLF 0.023428
CLP 922.069906
CNY 6.79395
CNH 6.797215
COP 3431.21
CRC 455.680892
CUC 1
CUP 26.5
CVE 96.643148
CZK 21.273398
DJF 177.959305
DKK 6.55228
DOP 59.574207
DZD 133.287157
EGP 49.128601
ERN 15
ETB 159.958017
EUR 0.87655
FJD 2.24725
FKP 0.75464
GBP 0.755385
GEL 2.639797
GGP 0.75464
GHS 11.312552
GIP 0.75464
GMD 73.50148
GNF 8760.39722
GTQ 7.624348
GYD 209.037245
HKD 7.84385
HNL 26.740874
HRK 6.605597
HTG 130.665334
HUF 312.239908
IDR 17949
ILS 2.98005
IMP 0.75464
INR 94.64835
IQD 1309.200868
IRR 1375999.999517
ISK 126.060042
JEP 0.75464
JMD 157.456506
JOD 0.708966
JPY 162.744503
KES 129.489987
KGS 87.450218
KHR 4022.157363
KMF 432.000016
KPW 900.00035
KRW 1556.559984
KWD 0.30975
KYD 0.832833
KZT 478.894226
LAK 22414.367353
LBP 89490.161707
LKR 335.788879
LRD 181.37517
LSL 16.355047
LTL 2.95274
LVL 0.60489
LYD 6.420201
MAD 9.392039
MDL 17.658556
MGA 4239.449581
MKD 54.048722
MMK 2099.487458
MNT 3582.059186
MOP 8.072573
MRU 39.934089
MUR 47.239832
MVR 15.460285
MWK 1732.8542
MXN 17.52743
MYR 4.092501
MZN 63.849727
NAD 16.355047
NGN 1380.159732
NIO 36.777015
NOK 9.927979
NPR 151.280096
NZD 1.764365
OMR 0.3845
PAB 0.999343
PEN 3.415547
PGK 4.389402
PHP 61.658978
PKR 277.893999
PLN 3.770104
PYG 6077.471547
QAR 3.652921
RON 4.592993
RSD 102.863004
RUB 78.701398
RWF 1464.831938
SAR 3.751501
SBD 8.065041
SCR 13.37834
SDG 600.495989
SEK 9.72345
SGD 1.295594
SHP 0.746601
SLE 24.784777
SLL 20969.503664
SOS 571.103028
SRD 37.504501
STD 20697.981008
STN 21.47371
SVC 8.744659
SYP 110.532098
SZL 16.352449
THB 33.301981
TJS 9.233796
TMT 3.51
TND 2.961742
TOP 2.40776
TRY 46.671299
TTD 6.783122
TWD 31.847399
TZS 2624.997979
UAH 44.785486
UGX 3662.753244
UYU 40.115693
UZS 11997.23033
VES 622.24352
VND 26316
VUV 119.95305
WST 2.78094
XAF 574.921776
XAG 0.017257
XAU 0.000251
XCD 2.70255
XCG 1.801082
XDR 0.715018
XOF 574.931854
XPF 104.528762
YER 238.595061
ZAR 16.41655
ZMK 9001.202849
ZMW 18.013454
ZWL 321.999592
  • CMSC

    -0.0528

    21.64

    -0.24%

  • RBGPF

    0.6100

    65.61

    +0.93%

  • CMSD

    0.0000

    21.9

    0%

  • RYCEF

    0.7100

    19.1

    +3.72%

  • NGG

    -0.8900

    82.87

    -1.07%

  • GSK

    -0.3900

    52.42

    -0.74%

  • BCE

    -0.7500

    21.51

    -3.49%

  • RELX

    0.3800

    31.67

    +1.2%

  • RIO

    0.6400

    94.93

    +0.67%

  • BTI

    -0.9800

    61.76

    -1.59%

  • BCC

    -1.6300

    77.63

    -2.1%

  • BP

    -0.4000

    36.95

    -1.08%

  • VOD

    -0.4650

    13.225

    -3.52%

  • AZN

    -1.3300

    189.62

    -0.7%

  • JRI

    0.1000

    12.96

    +0.77%

French PM ends budget deadlock after no confidence motions beaten

French PM ends budget deadlock after no confidence motions beaten

France adopted a 2026 government budget on Monday following months of fraught negotiations after Prime Minister Sebastien Lecornu survived the latest in a string of no-confidence motions.

Text size:

Lawmakers rejected two no-confidence motions from the hard left and far-right parties tabled after the premier on Friday forced his budget through parliament without a vote for the third and final time.

The outcome cleared the way for the budget's final approval after four months of political deadlock over government spending.

The stalemate had pushed Lecornu last month to make an about-face on his pledge not to force the budget through parliament without a vote, a decision he called a "partial failure".

But the 39-year-old premier survived the latest challenges after making concessions to gain the backing of the Socialists -- a key swing group in parliament.

He had weathered two previous rounds of no-confidence motions, also triggered by his use of the constitutional provision known as Article 49.3 to push the bill through parliament in earlier stages of the process.

Speaking ahead of Monday's votes, Lecornu criticised what he called those who want to "reject everything", targeting the far-right National Rally and the hard-left France Unbowed who sought to bring his government down.

Motions tabled by the France Unbowed, the Greens and other left-wing groups drew 260 of the 289 votes needed to oust the the government. The far-right motion secured only 135 votes.

- Deficit-cutting effort -

The bill aims to cut France's deficit to five percent of gross domestic product (GDP) in 2026 from 5.4 percent in 2025, after the government eased back from an earlier target of 4.7 percent.

The budget includes higher taxes on some businesses, expected to bring in about 7.3 billion euros ($8.6 billion) in 2026, though the Socialists failed to secure backing for a proposed wealth tax on the super-rich.

The Socialists did, however, win several sought-after measures, including a one-euro meal for students and an increase in a top-up payment for low-income workers.

The plan boosts military spending by 6.5 billion euros, a move the premier last week described as the "heart" of the budget.

- State spending row -

In December, lawmakers narrowly adopted the social security budget, part of the broader spending plan, postponing an unpopular pensions reform until January 2028, after President Emmanuel Macron's term ends.

They failed to reach a compromise on state expenses, complicated by a tug-of-war between a right-leaning Senate pushing for savings and the lower house where no wing has a majority and the left has demanded more tax income.

France is under pressure from the European Union to rein in its debt-to-GDP ratio -- the bloc's third-highest after Greece and Italy -- which is close to twice the EU's 60-percent ceiling.

The country has been bogged down in political crises since Macron called a snap poll in 2024, in which he lost his parliamentary majority.

Lecornu was named premier in September -- then renamed the following month having stepped down -- after his two predecessors were both toppled by parliament over cost-cutting measures.

B.Carter--ThChM