Le Pen demands snap elections; Faure urges wealth tax and pension suspension; deficit targets 4.7–5%, pension uncertain
Paris
Caretaker French Prime Minister Sebastien Lecornu said on Wednesday he was hopeful a deal on France’s budget could be reached before year-end, lowering chances of a snap election. Lecornu spoke after meeting political leaders and preparing to report to President Emmanuel Macron on ways out of France’s worst political crisis in decades.
“There is willingness to have a budget before December 31,” Lecornu told reporters, adding that this “creates momentum” and “reduces the prospects of dissolution of parliament.” Macron faces growing pressure from opponents to call early elections or resign after Lecornu and his government resigned Monday, just hours after forming the cabinet. Lecornu is France’s fifth prime minister in two years.
Far-right leader Marine Le Pen refused to join talks and reiterated demands for snap elections. Socialist Party leader Olivier Faure pressed for a 2% wealth tax on the richest 0.01% and suspension of pension reforms, both contentious issues. Lecornu said discussions so far pointed to bringing the budget deficit to between 4.7% and 5% from 5.4% in 2025, but gave no guarantees on pension changes.
Acting education minister Elisabeth Borne expressed openness to suspending the pension reform, while acting finance minister Roland Lescure warned of its cost. Markets showed mild improvement after Lecornu’s comments, with Paris’ CAC 40 index rising 0.6%.
France remains in political uncertainty, with Lecornu’s report to Macron expected later Wednesday to shape whether a budget deal is possible or if the country faces an early election.