The French Senate has formally approved the highly debated budget bill for 2025, according to a live broadcast of the session on the government’s website. The bill was approved by 219 senators, with 107 voting against it, making it officially adopted.
On Monday, French Prime Minister François Bayrou accepted the budget bill for 2025 without a vote from the lower house of parliament, risking a vote of no confidence from the opposition. The left-wing party introduced two resolutions of no confidence against the Prime Minister, but neither received the majority of votes needed.
The budget bill aims to curb the country’s budget deficit to 5.4% in 2025 and includes significant cuts to public spending. However, defense spending will remain unchanged, with the Ministry of Defense set to receive an additional 3.3 billion euros compared to 2024.
The bill also includes a temporary tax increase for the wealthiest citizens and large companies. For companies with a turnover between 1 and 3 billion euros in 2024, an exceptional contribution will amount to 20.6% of their corporate tax for the year, and for companies with a turnover exceeding 3 billion euros, the rate will rise to 41.2%.
