French Prime Minister Proposes Controversial Public Holiday Cuts to Address Debt Crisis

Facing mounting pressure and opposition, PM Bayrou aims to cut France's budget deficit, highlighting the country’s precarious financial state while drawing criticism from various political factions.

France's Prime Minister François Bayrou is making headlines with his audacious proposal to eliminate two public holidays, namely Easter Monday and May 8, in a bid to alleviate the nation’s spiraling debt crisis. This initiative is part of a broader budget strategy for 2026, designed to drastically reduce overall spending while accommodating increased expenditures on national defense.

Addressing the financial turmoil, Bayrou emphasized that France's economy, which stands as the second largest in the eurozone, is in "mortal danger" of being overwhelmed by its accruing debt. He pointed out that the multiple holidays in May have turned the month into a "gruyère," or Swiss cheese, filled with gaps, suggesting that the nation must enhance its productivity by working more.

Bayrou's budget proposal outlines plans to freeze public spending for the upcoming year, eliminate tax breaks for affluent citizens, and cut the number of civil servants. Moreover, it is essential for the budget to incorporate President Emmanuel Macron’s directive for a €3.5 billion increase in defense spending over the next year, followed by an additional €3 billion by 2027.

While the suggestion to eliminate May's public holidays quickly gained media attention, it also attracted backlash from various political parties. The far-right National Rally (RN) condemned the proposal as an assault on French history and the workforce. Meanwhile, Green party leader Marine Tondelier voiced disappointment at discarding a holiday commemorating victory over Nazism.

Bayrou defended his initiative, asserting it was merely "basic arithmetic," contending that he would need to find over €40 billion to address the fiscal imbalance. This figure is part of the larger €43.8 billion that France must cut to manage its growing debt, which Bayrou emphasized was increasing at the alarming rate of €5,000 every second. His goal is to reduce the budget deficit from 5.8% last year to below 4.6% next year, targeting under 3% by 2029.

Having been in office since December, the moderate Bayrou stands at risk of having his budget proposal rejected when it comes to a parliamentary vote in the autumn, which could lead to the government’s downfall. The political landscape remains fractured, with a divided parliament comprised of three opposing factions that have thus far shown reluctance to collaborate.

Opposition leaders, including Jean-Luc Mélenchon from the radical left, demand Bayrou's resignation, while Marine Le Pen from the RN insists that he should reconsider his approach instead of burdening the workers and pensioners. As the political climate remains hostile, Bayrou continues to assert his commitment to reforming public finances despite the impending risk of a no-confidence vote.

If the government fails, President Macron may face the difficult choice between appointing a successor or installing a technocratic government. Both options would likely be met with skepticism from the parliament. With Macron's own popularity plummeting below 25%, calls for his resignation have emerged, although he has firmly resisted stepping down before the end of his term in 2027.