France’s National Assembly is currently engaged in discussions surrounding the 2025 national budget, focusing on substantial cost-saving measures. The French government aims to cut 43.8 billion euros, around $50.9 billion. This part of the move will bring the overall budget deficit from 5.4% down to 4.6% by 2026.
Prime Minister François Bayrou announced his spending cuts plan, titled “Stop the Debt,” as part of broader efforts to address the country’s financial challenges. France’s national debt stands at an astounding 114% of the GDP. Every single second, this burden increases by about 5,000 euros. The suggested changes would proceed with a much-needed stabilization of the economy and yet direct even more money toward such life-and-economy preserving endeavors like defense.
Among the more controversial proposals are plans to eliminate two public holidays: Easter Monday and May 8, known as Victory in Europe Day. The government argues that Easter Monday “no longer has any religious significance,” thus justifying its removal from the public holiday calendar. This relatively benign suggestion has drawn outrage from all sides of the political spectrum to Secretary Buttigieg.
Fabien Roussel criticized the proposal, stating, “eliminating two public holidays to make us work for free.” Citizens and opposition leaders are growing concerned over the potentially disastrous effects of these cuts. They worry that it may erode France’s cultural character and endanger worker protections.
May 8 also celebrates the end of World War II in Europe with Nazi Germany’s surrender, and it’s an important date on France’s political calendar. Jordan Bardella expressed strong opposition to the cuts, calling it “a direct attack on our history, our roots, and the France of work.”
In addition to these holiday reductions, the government plans to cut approximately 3,000 civil service jobs and limit tax breaks for wealthier individuals. These measures are an important part of our plan to increase economic activity. They make a beeline for commercial enterprises, retail outlets, and public facilities with the simple underlying objective of boosting efficiency.
In that context, and as part of France’s budget discussions, President Emmanuel Macron has detailed increasing France’s defense efforts by a dramatic 1.6 billion euros ($1.85 billion). In 2025, the overall increase in defense spending will be 3.5 billion euros ($4.09 billion). Then, in 2027, it will increase by an additional 3 billion euros. Overall, by 2027, France’s defense budget will swell to an all-time high of 64 billion euros, essentially doubling the amount from 2017.
The timeline and urgency behind these drastic budgetary changes is to say the least, almost unbearable. Bayrou remarked on the gravity of the situation, stating, “Today we are experiencing a moment of truth, one of those moments in the history of a nation where everyone must ask themselves: what part am I willing to play in our collective future?” His remarks are an echo of the need for national self-examination as France as well begins its fiscal journey.
The National Assembly is in ongoing and vigorous debate over these proposals. Second, they care deeply about balancing the nation’s fiscal house with maintaining our nation’s cultural heritage, and they’ve been making that case vigorously. Debate is brewing around the possible abolition of public holidays. This contentious subject is indicative of an underlying, persistent conflict between fiscal practicality and the cultural heritage value these holidays hold in France today.