Budget: What are the government's options for finding 40 billion euros?
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To contain the deficit to 4.6% of GDP, several avenues are being considered, from a "blank year" to increasing VAT and challenging certain tax loopholes. Vincent Isore / IP3
Prime Minister François Bayrou is due to announce his "major choices" for the 2026 budget on Tuesday afternoon, July 15. To meet the deficit target of 4.6% of GDP next year, the government will need to find at least €40 billion. Here's a review of the government's options.
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I subscribeOn paper, the equation is simple: to meet the target of a 4.6% GDP deficit in 2026, essential for a return to below 3% in 2029, the government must find €40 billion in budget savings starting next year. Perhaps even €45 billion, if the revenue forecast for 2025 is not forthcoming.
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