Debates on the 2026 budget in the French National Assembly are bogging down, with unusual alliances between RN, PS, and MoDem leading to the adoption of tax increases totaling 34 billion euros in 24 hours. Prime Minister Sébastien Lecornu describes the situation as a 'very uncertain endurance race', while general rapporteur Philippe Juvin deems it highly likely that the text will not be examined on time. Industrialists denounce overtaxation threatening reindustrialization.
Since October 24, 2025, the examination of the 2026 finance bill in the French National Assembly has been marked by persistent blockages on the revenues section. Rassemblement national (RN) troops have chained successes in one week, voting a tax on multinationals estimated at 26 billion euros and the transformation of the real estate wealth tax (IFI) into an 'unproductive wealth tax'. On Friday evening, an amendment by MoDem deputy Marc Mattei, sub-amended by socialist Philippe Brun, was approved through an alliance between RN, Socialist Party (PS), MoDem, and the Liot group. An RN deputy rejoiced: 'We got 99% of our financial wealth tax passed via the Mouvement démocrate'.
The rejection of the Zucman tax on Friday heightened tensions, with over 2,000 amendments still to examine. Sébastien Lecornu, reconfirmed at Matignon three weeks ago, advocates a 'change of method' and will meet group presidents on Monday. He told Le Parisien: 'It’s a very uncertain endurance race where we can fall at any moment'. Spokesperson Maud Bregeon recalled that the government is 'under the tutelage of the 577 deputies'.
Philippe Juvin (LR), general rapporteur, deems it 'highly probable' that the Assembly cannot go to the end, with a vote on revenues possibly feasible but not on expenditures. Debates resume Monday for one day only, before the social security financing bill. The text returns on November 12, with eleven days to send to the Senate by the 23rd.
Ninety industrialists from sectors like automotive and aeronautics warn in the Journal du Dimanche against over 10 billion euros in additional taxes, stating: 'One cannot salute industry with one hand and dig its grave with the other'. Industry Minister Sébastien Martin replies that tax justice must not weaken the production tool. Final adoption of the budget remains uncertain by end of December, potentially via a special law.
