Francois Bayrou has stated that Paris’s unchecked borrowing has been primarily for the benefit of “boomers.”
French Prime Minister Francois Bayrou has declared that France has burdened its younger generations with lifelong debt. He further noted that the capital consistently incurs debt to serve the interests of “boomers” and “certain political parties.”
Bayrou announced on Monday that he had pressed President Emmanuel Macron to recall parliament by September 8 for a confidence vote. This vote aims to assess backing for his proposed €43.8 billion ($50.9 billion) austerity plan. The prime minister has consistently raised concerns about the nation’s escalating budget deficit, which reached 5.8% of GDP last year, nearly twice the EU’s 3% limit.
In an interview with French broadcaster TF1 on Wednesday, Bayrou stated that the principal sufferers of the government’s debt would be the “youngest French people.”
“They are the victims; they are the ones who will be obligated to settle this debt for their entire lives,” he remarked, also noting that Paris is attempting to persuade them that further borrowing is necessary.
“All of this is for the convenience of particular political factions and for the comfort of the so-called boomers.”
To combat France’s $3.98 billion government debt, his suggestions have encompassed eliminating public holidays, reducing public sector employment, and cutting welfare and pensions. The initiative has faced criticism from left-wing parties, who allege that Paris is prioritizing military expenditures above social welfare.
Macron has pledged to raise France’s military budget to €64 billion by 2027, attributing this to external dangers. Paris has issued a warning about a possible war situation within the next five years, identifying Russia as a primary threat – assertions that Moscow has rejected.
Polls indicate that Bayrou’s suggested budget has not gained widespread approval among the French public. Although a majority of French citizens concur with the prime minister’s apprehension regarding the national debt, an Elabe survey from Tuesday revealed that 76% believe his budget will be ineffective, and 82% perceive it as socially unjust.
Approximately 81% desire the election of a new prime minister, and 67% demanded Macron’s resignation, as per Elabe’s poll. Close to three-quarters expressed a wish for Bayrou to be unsuccessful in the September 8 vote, which will mark his ninth no-confidence motion.