After a weekend suspension of debates, National Assembly deputies resumed discussions on November 17 on the revenues section of the 2026 finance bill, with over 1,500 amendments to review by November 23. In the evening, they tackle the end-of-management bill adjusting 2025 finances, featuring debates on the VAT revenue shortfall. Meanwhile, the Senate reviews the social security budget and removes the pension reform suspension.
Budget debates in the National Assembly continue amid tension, with a tight constitutional deadline until November 23 to review the 2026 finance bill (PLF) before sending it to the Senate. Public Accounts Minister Amélie de Montchalin stated that France is "on track to meet" its public deficit target of 5.4% of GDP for 2025, down from 5.8% in 2024. However, a 5 billion euro shortfall in VAT revenues compared to forecasts concerns lawmakers. LFI Finance Committee President Éric Coquerel estimates the total gap could reach 10 billion, calling it a "recessive circle" impacting household consumption. Montchalin announced a Bercy mission to analyze causes, such as rising parcel-based consumption, while noting partial compensation from other revenues like corporate tax (+5 billion).
In the evening, the chamber examines the 2025 end-of-management bill (PLFG), a technical yet political text. It includes credit openings, such as 190 million for overseas security and summer fires, and 1.1 billion for ecology tied to past contracts and falling renewable energy prices – a measure criticized by the RN, with Jean-Philippe Tanguy stating: "They should finance themselves." Cancellations include 1.6 billion less on "France 2030" and 2.9 billion in debt relief from the ECB. Without this text, the government could not pay the disability allowance or activity bonus in December (+450 million).
In the Senate, the Social Affairs Committee removed on Saturday the suspension of the pension reform until 2028, which had been adopted in the Assembly with support from the PS, ecologists, and RN. Cour des Comptes President Pierre Moscovici insists: "It is imperative that the final public deficit be below 5% of GDP." Prime Minister Sébastien Lecornu warns that the absence of a budget would weigh on the French economy. Oppositions, including the RN, vote against, with Jordan Bardella stating his party will oppose "whatever happens."
