France’s Prime Minister François Bayrou says debt was piled up to guarantee the “comfort of the boomers,” shifting the bill to younger generations, as parliament readies a September 8 confidence vote on his leadership along with his €43.8 billion austerity plan.
On television he called the young “the victims,” saying they “will have to pay the debt all their lives… all for the comfort… of the boomers.” He doubled down at the employers’ federation, warning that the debt legacy risks reducing the young to “servitude” by forcing them to repay loans “decided lightly by previous generations.”
France has added €812 billion in debt since 2017, with pensions responsible for the lion 44% share (€335 billion). This is followed by recent crises at 26% (€222 billion), unfunded tax measures at 23% (€195 billion), and higher public-sector pay and state running costs at 7% (€60 billion).
An INSEE breakdown shows €561 of every €1,000 in public spending goes to social protection, including pensions at €253 and health at €201.
Bayrou, just appoined Prime Minister in December 2024, tabled a budget that includes a 2026 spending freeze at 2025 levels—excluding a defense increase—creating a de facto “white year” for ecological transition. He also flags a reorganization or closure of “improductive” state agencies, a new “solidarity contribution” on top incomes, and tougher tax fraud enforcement. Estimates by Matignon say the freeze and operator overhaul could save up to €10 billion.
The plan would also abolish two national holidays: Easter Monday (Lundi de Pâques) and May 8 (Victory in Europe Day, marking the end of World War II in Europe)
The measures are unpopular across the aisle and with the public. Organizers plan nationwide protests and a shutdown for September 10, while climate groups criticize the pause in green investment, warning it contradicts calls to fund rail, EVs, energy-efficiency retrofits, and forest renewal.
“It’s the last stop before the cliff, before we are crushed by the debt,” Bayrou defended in mid-July. On Tuesday he urged parties to use the next 13 days to “say whether they are on the side of chaos or responsibility.”
Bayrou’s recent remarks sparks political undertones as parliament opens an extraordinary session within two weeks to decide the government’s viability and the austerity line. Pro-government groups remain short of the 289 votes needed for an absolute majority. Major opposition parties from left to far right say they will not back the plan while the National Rally, which holds 123 seats, has abstained in prior confidence votes.
If Bayrou wins, he moves closer to executing the budget despite street opposition. If he loses, he must resign and President Emmanuel Macron would then name a new prime minister or—now that a year has passed since the last legislative vote—could dissolve parliament.
An Ifop poll for LCI shows 63% favor dissolution. Other polling finds two-thirds in some surveys want Macron to resign, while the National Rally leads but still falls short of a majority.
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