Sebastien Lecornu Sets Course: No Wealth Tax, Pension Reform Stands
Newly appointed French Prime Minister Sebastien Lecornu has ruled out reintroducing a wealth tax or suspending pension reforms while working on France's 2026 budget. Facing pressure to achieve fiscal fairness, Lecornu seeks parliamentary consensus amid a political crisis. His policy stances challenge expectations for significant changes under his leadership.
Newly appointed French Prime Minister Sebastien Lecornu has firmly ruled out the reintroduction of a wealth tax and the suspension of pension reforms as he faces the challenge of forming France's 2026 budget.
Lecornu, who was appointed amid political upheaval, emphasized the importance of achieving consensus with party leaders and unions. Despite calls for seismic changes, he signaled continuity by maintaining a budget deficit target close to that of his predecessor, Francois Bayrou.
With President Emmanuel Macron's alliance lacking a majority, Lecornu will require support from both conservative and socialist factions to pass the budget. Opposition figures are critical, with Socialist MP Arthur Delaporte expressing skepticism about any significant shifts from previous policies. As debates on fiscal justice continue, the pressure to secure a compromise is growing.
(With inputs from agencies.)
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