Back to today’s briefing

Story perspectives

Budget Crisis: Lecornu Faces No-Confidence Votes Amid Instability

10/5/2025

48 4

Summary

Story summary

Sebastien Lecornu faces possible no-confidence votes as the Socialist Party deems his budget inadequate.
He proposed a levy on financial wealth and vowed not to use Article 49.3.
Olivier Faure calls the proposals alarming and insufficient, demanding significant concessions.
Instability has raised borrowing costs, affecting investment and household spending; economist Gabriel Zucman’s wealth tax proposal was rejected.

1 of 1

Story summary

Sebastien Lecornu faces possible no-confidence votes as the Socialist Party deems his budget inadequate.
He proposed a levy on financial wealth and vowed not to use Article 49.3.
Olivier Faure calls the proposals alarming and insufficient, demanding significant concessions.
Instability has raised borrowing costs, affecting investment and household spending; economist Gabriel Zucman’s wealth tax proposal was rejected.