National Rally heavyweight Jean-Philippe Tanguy accused Barnier of “crying wolf” after he went on national television Tuesday evening to warn of “serious turbulence on the financial markets” that could follow a government collapse.
“Being unable to ensure tax reforms based on justice and fair contributions for all, Mr. Barnier is forced to brandish panic [and] the fear of chaos,” Tanguy retorted.
Tanguy said that were the government to collapse, it will still be able to introduce stopgap measures to ensure that the administration keeps functioning.
“We commit to vote in favor of that law,” Tanguy promised.
Barnier and the National Rally are at odds over the conservative grandee’s budget plans for 2025, which includes €60 billion in savings aimed at reducing the French deficit. The deficit is projected to come in at 6.1 percent of gross domestic product for 2024, more than double the European Union limit for overspending.
Since his appointment in early September, Barnier has made clear that bringing down the deficit would be his key priority — a promise that has calmed those in Brussels worried about France’s overspending since the pandemic. The European Commission on Tuesday endorsed Barnier’s plan to get France’s finances in order.