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FRANCE: Socialist Leader-Discussions w/Gov't On Budget 'Moving Forward'

FRANCE
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First secretary of the opposition centre-left Socialist Party (PS) Olivier Faure has told TF1 that talks are advancing with the gov't of PM Francois Bayrou on finalising a state budget for 2025. Following meetings on 8 Jan Faure said “It’s moving forward...We’re seeking paths toward a compromise even if it’s hard to find.” The PS met with gov't officials alongside two other opposition groups, the environmentalist Greens and the left-wing Communist Party. Faure: “There has to be a budget at some point, and that’s what we’re seeking. But we’re looking to do it in the best conditions for the French people.”

  • One major sticking point for parties of the left has been the pension reforms pushed through by President Emmanuel Macron in 2023. Bloomberg reports "Faure said that there had been a shift in the government’s stance on a 2023 law that raised the minimum retirement age to 64, with no outright refusal to consider potential changes. “I understood one simple thing, namely that there’s no veto, which is already a change,” Faure said."
  • Changes to the pension reforms could ensure the continuation of the Bayrou gov't, but would be a major blow to the legacy of Macron who has argued the changes are required to protect French public finances.
  • The gov't remains in a precarious position ahead of the 14 Jan general policy speech from Bayrou. It is unlikely that the PM will call a confidence vote after his address (historically this has been precedent with majority gov'ts, but recent minority administrations have avoided such a vote). 

 

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First secretary of the opposition centre-left Socialist Party (PS) Olivier Faure has told TF1 that talks are advancing with the gov't of PM Francois Bayrou on finalising a state budget for 2025. Following meetings on 8 Jan Faure said “It’s moving forward...We’re seeking paths toward a compromise even if it’s hard to find.” The PS met with gov't officials alongside two other opposition groups, the environmentalist Greens and the left-wing Communist Party. Faure: “There has to be a budget at some point, and that’s what we’re seeking. But we’re looking to do it in the best conditions for the French people.”

  • One major sticking point for parties of the left has been the pension reforms pushed through by President Emmanuel Macron in 2023. Bloomberg reports "Faure said that there had been a shift in the government’s stance on a 2023 law that raised the minimum retirement age to 64, with no outright refusal to consider potential changes. “I understood one simple thing, namely that there’s no veto, which is already a change,” Faure said."
  • Changes to the pension reforms could ensure the continuation of the Bayrou gov't, but would be a major blow to the legacy of Macron who has argued the changes are required to protect French public finances.
  • The gov't remains in a precarious position ahead of the 14 Jan general policy speech from Bayrou. It is unlikely that the PM will call a confidence vote after his address (historically this has been precedent with majority gov'ts, but recent minority administrations have avoided such a vote).