Economy Minister Eric Lombard said on Thursday, August 28, that he was "convinced that we will have a budget for 2026 on time," while a vote of confidence in François Bayrou will take place in Parliament on September 8, which has so far been off to a poor start.
Mr. Lombard, who was speaking at the Rencontre des entrepreneurs de France, the annual summer meeting of the Medef (French employers' association), also assured that "the wealth tax is completely excluded" from this budget, without ruling out the possibility of "discussions on sharing the effort" to find the €44 billion of effort desired by Prime Minister François Bayrou for next year.
The minister therefore seems to believe that it is possible to complete the budget on time, despite the vote of confidence that François Bayrou will submit to on September 8. In the event of failure, which currently seems the most likely scenario, he would have to resign and time would then have to be taken to rebuild a new government.
Despite all these uncertainties, to which the markets, and particularly the stock market, reacted quite clearly this week, Mr. Lombard assured that he "does not believe in a financial crisis" in France.
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