French lawmakers in final attempt to get 2026 budget approved
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French lawmakers will make what is likely their final attempt this year to approve the country’s 2026 fiscal plans when members of the National Assembly and Senate meet in a joint committee on Friday. Fourteen lawmakers from the two chambers are tasked with reaching a compromise on the state budget, a process complicated by deep political divisions over spending and fiscal priorities.
The challenge comes as both the draft state budget and the social security budget are set to result in a deficit of 5.3 per cent of GDP. This exceeds both the 5 per cent ceiling previously outlined by Prime Minister Sébastien Lecornu and the 4.7 per cent target France had committed to the European Commission, raising concerns about fiscal credibility.
While lawmakers have already reached an agreement on the social security budget, the state budget has proven far more contentious. During an earlier vote in the National Assembly, only one of its 577 members supported the amended bill. The Senate, which leans more conservative, passed its own version earlier this week, paving the way for negotiations that could extend into Saturday.
If the talks fail, France may be forced to adopt a stopgap measure, effectively rolling over the 2025 budget into the new year while lawmakers resume negotiations in 2026. Lecornu has warned that failing to pass a budget by January 1 would pose a serious risk to the French economy, noting that last year’s fiscal plans were also delayed.
Despite the obstacles, the government remains confident that a deal can be struck and has signalled its willingness to intensify negotiations to secure agreement before year-end.
