French Prime Minister Bayrou Faces Confidence Vote Over Deep Budget Cuts
French Prime Minister François Bayrou has called for a confidence vote in the National Assembly on September 8, aiming to secure support for his sharply reduced government spending plan—which includes €44 billion in cuts and tax adjustments to tackle a ballooning deficit.
A Governing Gamble Amid High Debt
Bayrou warned that France is at a "decisive moment," noting the nation's growing budget deficit of 5.8% of GDP, well above the EU 3% limit. He argued that inaction would be even riskier than pursuing bold reforms, although the cost of failure could be a collapsed government.
Strong Rejection from Across the Political Spectrum
The confidence vote is expected to fail. Major parties—including the far-right National Rally, radical left France Unbowed (LFI), Socialists, Greens, and Communists—have already pledged to vote against Bayrou, virtually sealing his political fate.
Political Fallout & Market Turbulence
Bayrou’s announcement comes just ahead of planned anti-austerity protests. The move triggered a sharp decline in France’s stock market, with the CAC‑40 index dropping over 2%, while bond yields rose—signaling investor unease and financial instability.
What's at Stake and What Comes Next
-
If the vote fails, the government risks collapse, forcing President Macron to either appoint a new prime minister, retain Bayrou in a caretaker role, or call new elections.
Finance Minister Éric Lombard stressed the urgency of crafting a recovery-focused budget for 2026, even as political stability hangs in the balance.