France's lower house on Friday rejected a wealth tax proposed by the left, which has threatened to bring down the government if a levy on the super-rich is not in the budget. France is under pressure to pass a spending bill by the end of the year to rein in its deficit and soaring debt, but efforts have been hampered by a political deadlock.
PM Bayrou is expected to lose, but a deadlock in parliament means France might struggle to find a replacement who can pass a budget aimed at cutting the deficit. The French government looks set to collapse in a vote of no confidence and tip the eurozone's second biggest economy into a political crisis. Prime Minister Francois Bayrou is expected to be ousted, casting doubt over President Emmanuel Macron's future. Monday's vote hinges on Bayrou's unpopular budget proposal for 2026, designed to slash France's fiscal deficit.
