French Government on Brink of Collapse as Prime Minister Faces Vote of No Confidence
The French government could collapse as early as Wednesday after Prime Minister Michel Barnier forced through the first part of his budget without a vote in the National Assembly. Barnier employed Article 49.3 of the French constitution to push through the controversial plan for spending cuts and tax hikes, sparking outrage and calls for his resignation.
In response, lawmakers from the left-wing New Popular Front and hard-right National Rally parties have called for separate votes of no confidence against Barnier. French President Emmanuel Macron is reportedly seeking a new prime minister in case Barnier is ousted, which is likely given the combined support of the two parties.
Macron is also facing pressure to resign, with over half of the French population reportedly in favor of his departure if Barnier’s government falls. Barnier was appointed by Macron to get the French economy back on track, but his budget plans have been met with widespread criticism.
The budget includes deep cuts to public spending totaling £33 billion and steep tax rises amounting to £16 billion. If Barnier loses the vote of no confidence, his budget plans could be scrapped, leading to a political and economic crisis in France. The situation has already led to a sharp rise in the cost of government borrowing and a rapid sell-off of French stocks.