A panel of French lawmakers have been meeting to thrash out the final text of a much delayed 2025 budget bill that is key to restoring investor confidence over the country’s finances and the government’s survival.
The seven senators and seven members of parliament on January 30 were holding the closed-door negotiation to find a compromise before the bill heads to the lower house floor next week, according to Reuters. That could trigger a possible motion of no-confidence in the government, the news agency said.
France’s failure to agree the 2025 budget has rattled investors while sapping business and household confidence. The government has had to make billions of euros in concessions to forge a bill with a chance of getting passed.
Socialist party officials upped the ante on January 29 by briefly suspending the budget talks in protest over remarks by Prime Minister Francois Bayrou, who said many French people felt “submerged” by immigration.
The left-wing does not have a majority on the 14-member panel to block a compromise deal. It could, though, tip the balance against Bayrou in the lower house, where a vote of no-confidence could be called as soon as February 5.
Eric Coquerel from the hard-left La France Insoumise (LFI) party who heads the Finance Commission of the National Assembly, told reporters there was little suspense over the talks on January 30 as there were eight parliamentarians from the Right and six from the Left on the panel.
“Given the power balance, one cannot see how a deal could not be reached,” he said, adding the real battle would take place next week in the National Assembly, where his party would back a no-confidence motion.
“The motion of no-confidence will be the moment of truth.”
The attitude of Socialist politicians would likely be key next week and there is uncertainty about what they will do, Reuters said.
Boris Vallaud, the leader of Socialist lawmakers in the lower house, struck a constructive tone, telling reporters he was entering the meeting armed with amendments: “We have only one concern at heart, the country’s interest,” he said.
Other Socialist party officials said they could still back the motion of no-confidence if they were not satisfied.
Even if a deal was struck by the panel, Bayrou would not be out of danger. He was expected to use constitutional powers to ram the budget compromise through without a regular vote, triggering the no-confidence motion, according to Reuters.
Should the Socialists decide to back the motion to topple Bayrou, he would find himself dependent on the grace of the far-right Marine Le Pen’s lawmakers again.
Bayrou could still fall if Le Pen, de facto head of the National Rally party, decided to join the Socialists in backing a no-confidence motion.
