French parliament clears way for Macron's military spending boost in 2026 budget
Summary
France's parliament has passed the 2026 budget to increase military spending, following promises by President Emmanuel Macron to address threats related to Russia and the Middle East. Prime Minister Sébastien Lecornu utilized special powers to approve the budget, avoiding a government shutdown and ensuring military enhancements. The budget aims to reduce the deficit while including tax increases for big companies and suspending unpopular pension changes.Key Facts
- France's 2026 budget increase is aimed at boosting military spending.
- The budget passed using a special constitutional power, bypassing a parliamentary vote.
- The budget includes a €6.7 billion increase for military spending in 2026.
- New military equipment includes a nuclear submarine and surface-to-air missiles.
- Macron focuses on defense and foreign policy amid ongoing parliamentary issues.
- The government aims to lower the budget deficit to 5% of the GDP.
- Some pension reforms were paused to avoid government collapse.
- Businesses will face higher taxes to help balance the budget.
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