The French Parliament approves extending the budgets due to the inability to agree on public accounts for 2026

France chains desperate solutions. This Tuesday, the National Assembly unanimously approved the special finance law, an emergency text that allows the State to collect taxes, maintain expenses and borrow in the markets until January 1, always based on the public accounts of the current year. A temporary patch in the form of a budget extension.

The Minister of Public Accounts, Amélie de Montchalin, warns that this “minimum service” represents nothing more than a “maximum risk”, but the division of the parliamentary arc into three practically irreconcilable blocks prevents the articulation of majorities. Majorities, on the other hand, necessary to carry out the budgets for the next year, the thorn in the side of the president, Emmanuel Macron, eager to provide his country with new public accounts “as soon as possible” to control the high deficit and the skyrocketing debt.

Its prime minister, Sébastien Lecornu, who against all odds survived a motion of censure with a good chance of succeeding, regained oxygen last week thanks to the approval of the budgets for Social Security. A resounding parliamentary victory that, to a large extent, responded to the abstention of several environmentalist deputies and the support of the socialist bench, satisfied with the suspension of Macron’s controversial pension reform.

On this occasion, however, Lecornu has shown himself incapable of convincing the different parliamentary groups, with the notable exception of Jean-Luc Mélenchon’s France Insoumise (LFI) and Marine Le Pen’s National Rally (RN), with whom he does not even talk.

Besieged by the populist left and the extreme right, Macronism is licking its wounds. “We know that this will not be the ideal budget. The time for the big projects will be in 2027,” centrist deputy Jean-Paul Mattei declared this Tuesday from the rostrum.

Given the persistent blockade, some legislators—like Mattei himself—propose applying article 49.3, a constitutional resource that allows a bill to be approved without submitting it to the criteria of the Assembly. A mechanism whose use motivated the motion of censure that overthrew Michel Barnier’s Government.

Lecornu, who promises to “be accountable” to public opinion to explain the Government’s actions, especially regarding efforts to adopt next year’s budget, promised not to use that letter to gain the trust of the Socialist Party.

The deputies will resume negotiations after the holidays. Meanwhile, pressure is mounting on the euro zone’s second-largest economy.

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