In his inaugural address, Prime Minister Michel Barnier emphasized that France's colossal public debt, now at 3.2 trillion, poses a severe financial risk, stating, "The real sword of Damocles is our colossal debt...If we're not careful, it will take our country to the edge of the precipice." He acknowledged that public spending cuts would be necessary and urged the government to pursue better spending without sacrificing necessary taxation, particularly from profitable companies.
Barnier faced both heckling and applause while presenting his government’s plan, stating, "We will overcome each obstacle step by step." Despite the political division within the national assembly, he committed to addressing the significant public debt alongside environmental challenges, promising a reduction of France's deficit to 5% of GDP by 2025 and 3% by 2029.
Acknowledging the existing tax burden, Barnier indicated a strategy involving an "exceptional contribution" from successful companies and an increased effort from wealthy citizens, noting that, "We cannot spend more; we must spend better...Often our citizens think they are not getting enough from their taxes" as he highlighted the need for effective resource allocation.
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