France’s government is set to present its 2025 budget on Thursday, aiming for €60 billion ($65.68 billion) in tax hikes and spending cuts to address a growing fiscal deficit.
Prime Minister Michel Barnier faces pressure from financial markets and EU partners to act after falling tax revenues and increased spending. The budget, representing a 2% national output squeeze, needs careful negotiation to pass through parliament, where Barnier lacks a majority.
The budget includes a temporary surtax on big companies and individuals earning over €500,000, while middle-class taxpayers will see restored levies on electricity, which were reduced during the energy price crisis. The government aims to reduce the public deficit from 6.1% of GDP this year to 5% next year, with a longer-term goal of reaching the EU’s 3% limit by 2029.
Barnier’s government faces opposition from both the far-right National Rally and members of President Emmanuel Macron’s party, complicating the budget’s passage. Additionally, €20 billion in cuts across ministries and reductions to welfare, health, pension, and local government budgets are planned. The European Commission, which has flagged France for breaching fiscal rules, will scrutinise the budget closely. Financial markets are also expected to monitor the process to gauge the government’s stability.
Melissa Enoch
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•Toyota Land Cruiser-N1.3m
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•Toyota Corolla
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•Toyota Camry –N650,000
•Toyota Avensis –N800k
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TOYOTA AVALON #950,000
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Spider 1m800k
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tundra 2.670,000
tacoma 2.5Million
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Golf 1-250,000
Golf 2-N300,000
Golf3-350,000
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LEXUS ES300@#1.3 MILLION
LEXUS ES330@#1.6 MILLION
LEXUS ES350@#2 MILLION
LEXUS RX300@#1.7 MILLION
LEXUS RX330@#3 MILLION
LEXUS RX350@#4 MILLION
LEXUS RX400@#3.5 MILLION
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Lexus GX470=₦8.4M
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Mercedes-Benz E-Class ₦1.7 million
Mercedes-Benz G-Class ₦2.5 million
Mercedes-Benz GLK ₦3.5 Million
Mercedes Benz ML350 ₦2.3 million
Mercedes Benz g-wagon ₦125 million.
Range rover vogue 6mill
Range rover sport HSE 4.8m
Land rover 3.3m
Acura ZDX 1.850,000
Acura MDX 1.6m
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