French National Assembly rejects 2027 social security budget — Anadolu Agency

In France, the National Assembly rejected the government's draft social security budget for 2027 at first reading. According to Anadolu Agency, the bill was sent to the Senate.

Vote in the National Assembly

By 115 votes to one, lawmakers did not support the revenue section of the document, having previously removed most key measures, BFMTV reports. As a result, the entire bill was rejected without consideration of its expenditure section.

Lawmakers from left-wing forces, the far-right National Rally party and its allies, as well as most representatives of the conservative Republicans party, voted against the text. Most lawmakers supporting the government abstained, while one representative of the centrist MoDem party voted in favor.

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Senate review and plan parameters

The Senate is due to begin considering the government's original version of the document on November 9. Earlier this month, the draft was also rejected by the National Assembly's Social Affairs Committee.

According to Le Monde, the government plan provides for significant savings to reduce the social security system deficit from €21.8 billion in 2026 to €12.7 billion in 2027. A significant part of these savings, according to the publication, would have to be borne by pensioners.

France's Court of Audit, in a report published this week, called on the government and parliament to balance the social security budget by 2030 and stressed the need for corrective measures as early as next year. The vote took place amid mass protests over conditions in schools and the cost of living, while yields on France's 10-year government bonds exceeded 5% this week for the first time since 2002.