Socialists Surge: France's Budget Battle Intensifies

France's Socialist Party seeks significant budget concessions from new Prime Minister Sebastien Lecornu, focusing on ending pension reforms and introducing a new wealth tax. The party faces challenges, balancing public support with potential political fallout in a fragmented parliament, as nationwide protests escalate around budget issues.

In a pivotal negotiation, France's Socialist Party met with recently appointed Prime Minister Sebastien Lecornu on Wednesday. The discussions aimed to secure substantial changes in the upcoming budget, marking a critical juncture for President Emmanuel Macron's second term.

The Socialists, out of power since Macron's rise in 2017, now hold strategic influence. Socialist Party leader Olivier Faure emphasized the party's demands on social media platform X, advocating for an end to aggressive budget cuts, fair wealth distribution, and greater purchasing power for the populace.

Tensions mount as the Socialists challenge Macron's pension reforms and propose a new wealth tax while seeking to slash proposed savings for 2026. Despite public support for their proposals, a hardline stance could precipitate political instability, potentially leading to snap elections, a scenario that current opinion polls suggest may not benefit the left.

(With inputs from agencies.)