France Budget 2025: Barnier Urges Exceptional Contribution from Major Enterprises
France's 2025 Budget Proposal
France's government revealed its 2025 budget proposal on Thursday, amid pressing demands for financial savings due to a colossal debt that alarmed the European Union. The aim is to reduce the deficit by 60 billion euros to prevent surpassing 6% of GDP, a situation that could lead to excessive deficit proceedings from Brussels.
Exceptional Contributions from Corporations
- The government plans to implement an 'exceptional contribution' on the profits of approximately 400 large companies operating in France for fiscal years 2024 and 2025.
- This strategic measure is expected to generate 8 billion euros in 2025 and 4 billion in 2026.
- Additionally, a temporary and exceptional contribution targeting wealthier households could yield 2 billion euros in 2025.
- A new 'exceptional tax' targeting significant maritime freight companies is projected to bring in 500 million euros next year.
Despite the intention to control public spending, approximately 2,200 public service jobs, particularly in education, will be cut. France's debt has surged to 112% of GDP, marking the highest level in the EU, outpacing even Greece and Italy. Meanwhile, Michel Barnier's maneuvering space remains limited, lacking a parliamentary majority.
Political Reactions
Concerns about the proposed efforts have been voiced by various ministers and deputies, with La France Insoumise's leader Jean-Luc Mélenchon criticizing the situation as a 'calamity' due to the cuts in education.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.