France’s Prime Minister Francois Bayrou stated on Tuesday he wants to reach a 2025 budget agreement with parliament to reduce the country’s deficit to around 5%, a goal his predecessor Michel Barnier missed.
The official emphasized the need for a balanced approach that doesn’t disproportionately affect companies, which he called a “national treasure.” Bayrou added that he plans to finalize the budget by mid-February.
“We need to find something around five, a little more than five, that will enable us to reach an agreement and strike a balance,” the French PM said, noting that while companies may face short-term pressures, they shouldn’t be unfairly targeted.
Bayrou's remarks came shortly after his cabinet was named, tasked with fixing public finances and securing parliamentary backing.
Bayrou also stressed that his budget is distinctly focused on protecting businesses. “I believe in protecting companies,” he said. "The national treasure is companies. They create wealth. They create jobs."