Government prepares the French for new tax increase in 2026
On Tuesday, June 3, officials from the Ministry of the Economy and Finance said during a press briefing on the budget preparation timeline that the government's goal was for the majority of the 2026 financial effort to focus on limiting public spending. These saving measures, which were expected to account for most of the planned adjustment, would, however, almost certainly have to be coupled with an increase in tax revenues.
Such a prospect is likely to anger the right. "In France, it is never the right time to cut spending; there is a kind of refusal to face the problem," said Senator Jean-François Husson (Les Républicains, right-wing), and general rapporteur on the budget. "But we will have to tackle it." Charles Sitzenstuhl, a Macron-aligned MP, also expressed concern: "I fear that, as with [former prime minister] Michel Barnier, we will start by promising spending cuts only to end up with a tax explosion."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Local France
27 minutes ago
- Local France
French PM set to survive no-confidence motion
The motion of no-confidence against Bayrou's government was tabled by the Socialist Party (PS) after the collapse of talks on pension reforms. Bayrou does not have a majority in parliament's lower house, the National Assembly, and the vote – expected to take place on Tuesday evening – underscores the fragility of his position and the loss of the Socialists whose support he had until now relied on to stay in power. While centrist veteran Bayrou publicly dismissed the move as a 'joke', he has been fuming in private, said one minister. The French prime minister, 74, 'is pretty angry with the Socialist Party', said the minister on condition of anonymity. 'No more leniency towards Francois Bayrou,' PS leader Olivier Faure said on Sunday. 'We have been betrayed.' While the no-confidence motion has broad support across the left, it is set to fail as it will not receive the backing of the far-right National Rally (RN) under Marine Le Pen. 'Censuring the government today would not benefit the French people,' Le Pen told reporters on Tuesday. On the other hand, she added, the party will pay particular attention to the budget proposed by Bayrou's government. Advertisement The far-right party has not ruled out using its leverage in parliament to vote out Bayrou, as it did with his predecessor Michel Barnier, over the 2026 budget in the autumn. Putting together the 2026 budget will be 'a nightmare' given the extent of France's financial difficulties, government spokesperson Sophie Primas said in March. Bayrou was named prime minister by President Emmanuel Macron in December with a mission to bring stability following months of chaos in the wake of last summer's legislative elections. Were Bayrou to be ejected by parliament in a vote of no-confidence, it would leave Macron seeking his seventh prime minister and cast a heavy shadow over the remaining two years of his presidential mandate.
Fashion Network
an hour ago
- Fashion Network
Eyewear e-tailer Mia Burton merges with Lipari, forecasts €23.7 million revenue in 2025
Mia Burton, an international e-tailer specialised in high-end sunglasses and eyeglasses founded in 2022, has announced it has merged by incorporation with Lipari, an eyewear and optical products retailer set up in Palermo, Sicily, over 50 years ago, which recently opened a new store in Milan. The goals of the operation are for the partners to boost their omnichannel business, strengthen the group structure, and create synergies between online and offline retail. Mia Burton is set to consolidate its online presence and international footprint through a data-driven approach, while Lipari will continue to concentrate on physical retail with its selection of premium brands and sector expertise. Mia Burton and Lipari's joint goals include scaling operations and logistics, and increasing product customisation by sharing customer data and solutions. 'In a sector like eyewear that, unlike other fashion and luxury sectors, continues to grow chiefly in the digital realm, the new entity is preparing to develop different business lines, enhancing complementary skills within a single organisation. Pursuing this operating strategy, the group is aiming for revenue of €23.7 million in 2025,' said Mia Burton and Lipari in a press release. Mia Burton will contribute its expertise in international e-tail and premium brand management. The site is deployed in five languages – English, Italian, French, German, and Spanish – and is active virtually worldwide. Its main markets are the USA, the UK, and northern Europe, while Canada and Australia as emerging markets. Following the merger, Mia Burton intends to pursue its internationalisation path, opening new logistics hubs in the USA and Europe, and expanding its e-tail business to new markets such as the Arabian peninsula. In 2025, notably in Q2, Mia Burton has stepped up its efforts in Italy, posting 99% growth on an annual basis. 'We are not chasing an ego project or short-term revenue. In order to become a significant force, the most important thing is to build a solid project, and a coherent one. We are imagining a path unlike that of a cash-burning start-up,' said Carlo Alberto Lipari, CEO of Mia Burton. 'The merger with Lipari realises our vision of a business unit structure that multiplies existing synergies and enables us to tap new opportunities. Although Italy is a priority, we will adopt a gradual approach, since e-tail penetration in the optical sector in Italy has always been slower than in other countries. Precisely for this reason, our online focus on the Italian market continues to go hand in hand with traditional retail, and we are constantly searching for high-profile locations in [Italy's] main cities,' he added. Lipari said that the group will continue to extend its retail footprint with new openings in Italy, focusing on the in-store experience and a direct relationship with international brands, as shown by the recent limited-edition collaboration with French brand Peter & May. Mia Burton, in addition to consolidating its position as a multi-brand platform for high-end eyewear, will focus on selling its proprietary line of progressive lenses, Mia Burton Vision. Mia Burton currently sells 65 brands, from major luxury names such as Cartier, Gucci, Saint Laurent, Balenciaga, Bottega Veneta (by Kering Eyewear), Prada and Miu Miu (by Luxottica), to niche brands such as Jacques Marie Mage, Chrome Hearts, Cutler & Gross and Kuboraum, as well as independent brands with a cult following like Peter & May, Garrett Leight, and Leight, and iconic eyewear brands like Ray-Ban, Persol and Oakley.
LeMonde
2 hours ago
- LeMonde
France returns military base to Senegal as part of broader withdrawal
France handed over to Senegal a military base used by its army on Tuesday, July 1, as part of a broader withdrawal of French troops from the West African country. Senegal's President Bassirou Dioumaye Faye announced late last year that former colonial power France would have to close its military bases in Senegal by 2025 − a process that began in March with the first handovers to Senegalese authorities. France returned on Tuesday a military communications centre located in Rufisque, near Dakar, the French embassy in Senegal said in a statement. The station had been "responsible for communications on the southern Atlantic coast since 1960", the statement read. After its independence in 1960, Senegal remained one of France's most reliable African allies. But Faye, in power since 2024, has pledged to treat France as any other foreign partner. As a result, all Senegalese staff working for French troops in Senegal were to be dismissed starting on July 1.
