France’s Prime Minister Francois Bayrou has announced a new tax on the country’s wealthiest citizens as part of an austerity package designed to tackle mounting public debt. The measure, described as a "solidarity contribution," aims to expand an existing levy targeting individuals earning over €250,000, helping to bridge a €43.8 billion budget shortfall. Bayrou emphasized the need for "equitable" national effort, stating that "we must ask little of those who have little, and more of those who can do more."
The austerity package also includes contentious proposals such as scrapping two national public holidays—Easter Monday and Victory Day on May 8—to boost productivity. Right-wing leader Jordan Bardella condemned the measure as a "direct attack on our history and roots," while left-wing parties accused the government of prioritizing military spending over social welfare. France’s public debt has reached €3.3 trillion, or 114% of GDP, with defense spending set to double to €64 billion by 2027. President Emmanuel Macron cited heightened threats to European security as justification for the increased military budget, while the Kremlin has dismissed claims of an impending war, accusing NATO states of using Russia as a pretext for military expansion.
Bayrou must secure parliamentary approval for the plan before presenting the full budget in October, with critics from both the left and right warning of the profound social and political implications of the austerity measures. The new defense review has warned of a potential "major war" in Europe by 2030, listing Moscow among the top threats. The Kremlin has dismissed these claims, accusing NATO states of using Russia as a pretext for military expansion, while left-wing parties fear that essential public needs are being sacrificed under the guise of security. Jean-Luc Melenchon, leader of La France Insoumise party, has called for Bayrou’s resignation, stating that "these injustices cannot be tolerated any longer."