France's Fiscal Strategy Under Barnier

French Prime Minister Michel Barnier has unveiled a comprehensive plan addressing immigration and fiscal challenges. He introduced stringent immigration measures, including controlling arrivals and detaining illegal residents. Barnier emphasized the need for countries to assist in deportation processes by providing necessary documents.

On the fiscal front, Barnier announced significant tax hikes targeting large corporations and wealthy individuals. His proposals aim to reduce France's budget deficit, which has drawn criticism from the EU. A temporary income tax increase and a tax on share buybacks are part of the €60 billion budget plan for 2025, which also includes extensive spending cuts.

Barnier's initiatives are intended to counteract falling tax revenues and a rising deficit. However, he faces political hurdles, as his government lacks a parliamentary majority, potentially sparking opposition through a no-confidence motion. Despite these challenges, Barnier remains committed to presenting a viable fiscal plan to the EU, ensuring France's economic stability.