Prime Minister confirms plan to cut government spending
Stalled job creation on La Réunion Island and austerity budget plan
In “La Tribune du dimanche”, Prime Minister Michel Barnier confirmed that the 2025 budget will be austere. He plans to make savings of 40 billion euros and raise taxes by 20 billion euros.
The plan is to cut government spending by 20 billion euros, notably by not adjusting appropriations in line with inflation. A third of this 40 billion will be financed by savings in social spending. Reductions in social security contributions and taxes benefiting companies will be reviewed, with the aim (…)