2026 Budget: Removal of two public holidays, “blank year”… Bayrou’s first announcements

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The time has finally come for François Bayrou's government to take stock. On Tuesday, July 15, the Prime Minister unveiled the broad outlines of the state budget for 2026 during a highly anticipated press conference, which has been the focus of speculation despite numerous avenues being discussed in advance.

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Faced with a real financial and political conundrum, François Bayrou had pledged to present his solutions, over a four-year plan, to stabilize the debt and reduce the deficit to 4.6% of GDP. An ambitious objective – a challenge – while, at the same time, Emmanuel Macron announced on Sunday that he wanted to increase the military defense budget . With the objective of saving €43.8 billion , here is what to remember from the Prime Minister's first budget announcements.

François Bayrou began his presentation by evoking the " mortal danger " and the " curse" with no " way out" that, according to him, the debt burden in France represents. " We have become addicted to public spending " and " we have gradually lost sight of the fact that in order to distribute, we had to produce, " the Prime Minister continued, in the preamble to his speech dubbed "The Moment of Truth," to justify the announcements he was about to make. These announcements thus revolve around two plans: " stop the debt " and " let's get production going ," as he put it in a speech full of slogans.

The promise of the first " realistic " plan, in which " everyone must participate, " is " to stop the increase in debt in four years ," with the objective of reaching the threshold of 2.8% deficit by this deadline, in the words of the Prime Minister. " The State sets itself the first rule of not spending ," declared François Bayrou, meaning that State spending is frozen in 2026 at the 2025 level, excluding defense and debt service. Indeed, he clearly justified the budget increases on the military side, announced by the President of the Republic on the eve of the national holiday . " The French army must remain at the level of its responsibilities, " he declared. " The government assumes responsibility ."

The Prime Minister then listed concrete measures: the establishment of a " rule of non-replacement of one in three civil servants retiring (...) for the coming years ", the creation of a " real estate company (...) to make the State's unproductive assets useful ", the reduction of " the State's participation in certain companies ", the elimination of " unproductive agencies " and the fight against " the drift " of sick leave.

Above all, " we must share a blank year ," declared François Bayrou, announcing the non-increase of the tax scale, social benefits and pensions despite inflation, which would allow savings of 7.1 billion according to his figures.

François Bayrou has proposed removing two public holidays, Easter Monday and May 8. "The whole nation needs to work more to produce," he justified.