French PM to modify pension reforms to win leftist support for 2025 budget

French Prime Minister Francois Bayrou speaks during the questions to the Prime Minister session at the National Assembly in Paris, France, December 17, 2024.

French Prime Minister Francois Bayrou is set to outline modifications to pension reform plans on Tuesday in a bid to secure support from the left to pass his 2025 budget. Previous attempts to pass a budget led to deadlock and the collapse of his predecessor's government.

French Prime Minister Francois Bayrou is expected to lay out in a speech on Tuesday the contours of a deal to water down pension reforms in return for support from the left on passing a budget.

The speech comes after a tumultuous 2024 for France when President Emmanuel Macron shocked the nation by calling early elections, only to lose his working majority in parliament just as the public finances went off track.

Bayrou's government, which was formed last month after the collapse of his predecessor's administration, is trying to win assurances from some opposition parties and the Socialists in particular that they will not vote against its 2025 budget.

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The Socialists, who voted down the previous budget proposals in December in conjunction with far-right lawmakers and precipitated the fall of Michel Barnier's government, have made concessions on the 2023 pension reform a condition for support.

Deal unclear

It was still unclear before the speech whether a deal had been reached, but talks at the finance ministry last week between Finance Minister Eric Lombard and left-wing leaders appeared to have made progress.

"Francois Bayrou musn't lose on his right what he gained on his left," William Thay, head of French political think-tank Le Millenaire told Reuters.


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