Macron's final budget hinges on Le Pen's backing ... for now

France’s government proposed a 2027 budget with €43 billion in savings, a package designed to win over Marine Le Pen’s far-right National Rally and calm market fears about the country’s worsening fiscal position. Economy and Finance Minister Roland Lescure said the budget would “return to the path of consolidation” in 2027. The plan targets a reduction in the deficit from an estimated 5.4% of GDP this year to 5% in 2027, relying on €9 billion in state spending cuts, a freeze on adjusting pensions for inflation, and extending a temporary tax on large companies, expected to raise €5 billion. Prime Minister Sébastien Lecornu previously said the squeeze would reach €54 billion, while Lescure cited €11 billion saved in 2027 from measures already adopted.