Lecornu intends to present new French government in early October

The new French Prime Minister, Sébastien Lecornu, has ruled out introducing a wealth tax and suspending the controversial pension reform.

These are the first indications of his plans in relation to the 2026 draft budget and the formation of the government.

Lecornu said he was starting “with a blank slate” and aiming for a budget deficit of around 4.7 percent of GDP. This target is largely in line with the plan of his predecessor, François Bayrou, who was dismissed by parliament.
The new prime minister emphasized the need for broad political consensus and reminded lawmakers that parliament must approve the budget.

Macron's governing coalition does not have a majority and will be dependent on the support of conservatives and socialists.

However, the socialists are calling for precisely those measures that Lecornu rejects. Socialist MP Arthur Delaporte described Lecornu's course as a continuation of “Macronism” and warned that he too could be dismissed.

Lecornu also warned that the deficit could rise to 6 percent next year if the budget is not passed by the end of the year.

He plans to present his government in early October.

(reuters, lud)