Lawmakers face pressure to figure out how to rein in France’s budget deficit as it spirals towards 6 per cent of GDP due to a tax shortfall, higher than planned spending
French Prime Minister Michel Barnier takes part in the evening news broadcast at the France Televisions studios in Paris, on Sept. 22.French Prime Minister Michel Barnier has handed a little known duo the task of plugging a huge hole in the budget, putting loyalty before political clout in the job description for his finance and budget ministers.
Unknown outside of Parisian political circles, the two face huge pressure to figure out how to rein in France’s budget deficit as it spirals towards 6% of GDP due to a tax shortfall and higher than planned spending. Armand is a relative political novice, serving as a lawmaker in Macron’s party since 2022 while Saint Martin only served one term, failing to win a second term in 2022.
In any case it will fall on Armand to defend the government’s budget choices in Brussels, where France’s European Union partners are unlikely to have much sympathy for Paris once again requesting more time to cut its budget deficit. Armand and Saint Martin will have to work around the clock to finalize the 2025 budget bill, which usually takes months of preparation and is due to be handed over to lawmakers by Oct. 1, although some leeway is possible.
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