Facing criticism, Bayrou argues that urgent measures are needed to stabilize the country's finances while aiming to increase defence spending.
**French PM Proposes Removing Two Public Holidays Amid Debt Crisis**
**French PM Proposes Removing Two Public Holidays Amid Debt Crisis**
In a bold financial strategy, France's Prime Minister François Bayrou suggests axing public holidays to alleviate national debt.
France's Prime Minister, François Bayrou, has recently put forth a controversial plan to eliminate two public holidays as part of a sweeping budget proposal for 2026, aimed at significantly reducing national debt. The suggested holidays for removal are Easter Monday and May 8, the latter marking the Allied victory in Europe during World War II. Bayrou highlighted that holidays had turned the month of May into a "gruyère" – referring to the numerous days off, jokingly suggesting that a reevaluation was necessary.
Bayrou's attention-grabbing proposal comes as the nation grapples with severe financial challenges, with the Prime Minister warning that France faces dire financial consequences if steps aren't taken immediately. His government has started taking a hard look at public spending, proposing a freeze for the next year, eliminating tax breaks for wealthy citizens, and reducing the number of civil servants on the payroll.
With France's defence expenditure also in focus, President Emmanuel Macron's recent directives include an increase of €3.5 billion (£3 billion) next year, followed by further increases in subsequent years. Nevertheless, it's Bayrou's suggestion to cut holidays that has sparked the loudest uproar. Critics, including members of the far-right National Rally, label it an attack against French heritage and the working class. Green party leader Marine Tondelier lamented losing a holiday that represents a stand against Nazism.
In justifying his financial decisions, Bayrou described his actions as "basic arithmetic," emphasizing that France's budget requires an estimated €43.8 billion in cuts to effectively tackle rising debt levels, which he claims escalates by €5,000 every second. His objective is to bring down the annual budget deficit from 5.8% last year to below 4.6% next year, ultimately aiming for less than 3% by 2029.
The centrist prime minister, who assumed office just last December, faces a volatile parliamentary landscape. Previous attempts by his predecessor, Michel Barnier, to curb deficit spending led to a government collapse after a no-confidence vote, a fate Bayrou’s administration now risks facing as well. Opposition leaders from both the extreme left and far-right have united to express that Bayrou's approach is untenable, with Jean-Luc Mélenchon of France Unbowed demanding the Prime Minister's removal and Marine Le Pen proclaiming that they would oppose Bayrou's measures fiercely without substantive revisions.
Bayrou remains determined to push forward with changes to revive public finances, despite the looming threat of significant political backlash. Throughout the past year, the French parliament has been notably fractured, complicating any collaborative efforts. Should Bayrou's government falter, President Macron would face a pressing decision to either appoint a successor or opt for a technocrat-led administration, either of which could be unfavorable to current MPs. Amidst these political storms, Macron's approval ratings have plummeted below 25%, with growing calls for his resignation prior to the end of his term in 2027, an eventuality he has so far firmly rejected.
Bayrou's attention-grabbing proposal comes as the nation grapples with severe financial challenges, with the Prime Minister warning that France faces dire financial consequences if steps aren't taken immediately. His government has started taking a hard look at public spending, proposing a freeze for the next year, eliminating tax breaks for wealthy citizens, and reducing the number of civil servants on the payroll.
With France's defence expenditure also in focus, President Emmanuel Macron's recent directives include an increase of €3.5 billion (£3 billion) next year, followed by further increases in subsequent years. Nevertheless, it's Bayrou's suggestion to cut holidays that has sparked the loudest uproar. Critics, including members of the far-right National Rally, label it an attack against French heritage and the working class. Green party leader Marine Tondelier lamented losing a holiday that represents a stand against Nazism.
In justifying his financial decisions, Bayrou described his actions as "basic arithmetic," emphasizing that France's budget requires an estimated €43.8 billion in cuts to effectively tackle rising debt levels, which he claims escalates by €5,000 every second. His objective is to bring down the annual budget deficit from 5.8% last year to below 4.6% next year, ultimately aiming for less than 3% by 2029.
The centrist prime minister, who assumed office just last December, faces a volatile parliamentary landscape. Previous attempts by his predecessor, Michel Barnier, to curb deficit spending led to a government collapse after a no-confidence vote, a fate Bayrou’s administration now risks facing as well. Opposition leaders from both the extreme left and far-right have united to express that Bayrou's approach is untenable, with Jean-Luc Mélenchon of France Unbowed demanding the Prime Minister's removal and Marine Le Pen proclaiming that they would oppose Bayrou's measures fiercely without substantive revisions.
Bayrou remains determined to push forward with changes to revive public finances, despite the looming threat of significant political backlash. Throughout the past year, the French parliament has been notably fractured, complicating any collaborative efforts. Should Bayrou's government falter, President Macron would face a pressing decision to either appoint a successor or opt for a technocrat-led administration, either of which could be unfavorable to current MPs. Amidst these political storms, Macron's approval ratings have plummeted below 25%, with growing calls for his resignation prior to the end of his term in 2027, an eventuality he has so far firmly rejected.
