France's Socialists Challenge Government on Budget

France's Socialist Party threatens to topple Prime Minister Sebastien Lecornu's minority government if budget negotiations do not compel billionaires to pay more taxes. Tensions rise as the Socialists and their potential allies press for tax reform that shifts the burden from average citizens to the wealthiest.

France's Socialist Party has issued an ultimatum to the government, demanding that billionaires bear a larger tax burden. By Monday, they vow to file a no-confidence vote if their budget conditions remain unmet. The Socialists, keen on averting a governmental collapse, have yet found no willingness from the administration to compromise.

In a parliament starkly divided, Prime Minister Sebastien Lecornu's minority government appears vulnerable. The Socialists could potentially align with both far-left and far-right factions to unseat him. Previous support from the Socialists was secured by Lecornu's promise to eliminate a contentious pension reform, yet the left now seeks further budget concessions.

Socialist leader Olivier Faure laments the current fiscal bill, which he argues disproportionately affects retirees, youth, and families rather than the ultra-rich. The political standoff coincides with declining business activity in France, raising concerns about economic instability. As budget negotiations persist, a critical vote looms, potentially reshaping France's fiscal landscape.

(With inputs from agencies.)