Fin Min Promises Cuts To Taxes & Spending As Budget Battle Looms

Speaking on a visit to the Haute-Savoie departement, France's Finance Minister Bruno Le Maire stated that the gov't will "...stick to our fiscal policy. We will continue lowering taxes for households and for businesses". Adds that the gov't "Will accelerate the process of reducing France's debt, which includes difficult decisions....State must show a good example by reducing public spending."

• Le Maire: "I conform we will end gas, electricity price caps....Inflation has started to slow as we predicted."
• Le Maire's comments come as the gov't prepares for la rentrée, the return of children to school that marks the end of the summer quiet period in French politics. An immediate task will be the debates on the 2024 budget that will take place over the autumn. President Emmanuel Macron's Renaissance party and its allies do not hold a majority in the National Assembly.
• Should they fail to win support from other parties, the gov't could once again be forced to use Article 49.3 of the French constitution, overriding parliament. The use of this method to pass controversial pension reforms sparked major protests. Given the significant social unrest France has experienced in 2023 already, a rancorous budget debate could increase the pressure on the gov't further.