French lawmakers reject 2027 social security budget in 1st reading
- Bill heads to Senate after lawmakers reject it in 115-1 vote as protests, rising borrowing costs increase pressure on government
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- Bill heads to Senate after lawmakers reject it in 115-1 vote as protests, rising borrowing costs increase pressure on government
By Necva Tastan Sevinc
ISTANBUL (AA) - France’s National Assembly on Friday overwhelmingly rejected the government’s draft social security budget for 2027 in its first reading, sending the bill to the Senate.
Lawmakers voted 115-1 against its revenue provisions after removing most of the key measures, French broadcaster BFMTV reported.
The rejection meant the entire bill was defeated without lawmakers examining its spending provisions.
Left-wing lawmakers, the far-right National Rally and its allies, and most members of the conservative Republicans voted against the text.
Most lawmakers supporting the government abstained, while one member of the centrist MoDem party voted in favor.
The Senate is scheduled to begin examining the government’s original version of the bill on Nov. 9.
The proposal had already been rejected by the National Assembly’s Social Affairs Committee earlier this month.
The government’s draft seeks substantial savings to reduce the social security deficit to €12.7 billion ($14.7 billion) in 2027 from €21.8 billion in 2026, Le Monde newspaper reported.
Retirees would bear a significant share of those savings, according to the report.
In a report published Tuesday, France’s Court of Auditors urged the government and parliament to bring the social security budget into balance by 2030, stressing the need for corrective action next year.
The vote came amid mass protests over school conditions and the cost of living. France’s 10-year government bond yield rose above 5% this week for the first time since 2002, reflecting concerns over high public debt, social unrest and the government’s ability to pass its 2027 budget.
Necva Taştan Sevinç