French PM Supports Freezing Macron’s Pension Reform to Preserve Government Stability

French Prime Minister Sébastien Lecornu made headlines this week by suggesting the suspension of contentious pension reforms. These reforms raised the retirement age from 62 to 64. His announcement comes at a crucial time when his government faces votes of confidence.

Lecornu, reappointed only days after resigning, urgently needs the backing of Socialist MPs to remain in power. In his speech to parliament, he expressed a willingness to pause the pension changes until after the next presidential elections in 2027. This received applause from left-wing factions, indicating a possible shift in political alliances.

The pension reforms have been a flashpoint for public discontent, leading to months of protests before finally passing through parliament in March 2023. The reforms were pushed through using a controversial constitutional mechanism, known as 49:3, which bypassed a traditional vote. Many citizens still view this as a “wound on democracy.”

Recently, Lecornu acknowledged that pausing the reforms could mean a cost of €2.2 billion (£1.9 billion) across 2026 and 2027, which will need to be offset with budget cuts elsewhere. This financial juggling act is critical as France faces a mounting public debt of €3.4 trillion, about 114% of its GDP.

Philippe Aghion, a Nobel Prize-winning economist, has weighed in on the situation, advocating for a suspension of the reforms. He argues that it would ultimately be cheaper than the social unrest that might accompany another government collapse.

Lecornu stressed the importance of providing a stable budget during these uncertain times. He committed to ending reliance on the 49:3 mechanism, emphasizing that parliament would have the final say on legal changes. This approach aims to foster greater collaboration and trust within the National Assembly, which has been fragmented.

Opposition parties, including the far-right National Rally and the radical-left France Unbowed, have tabled confidence votes to challenge Lecornu’s government. Their calls for parliamentary elections reflect the ongoing political turmoil following last summer’s snap elections.

Amidst the challenge, there is a split in public sentiment. Some citizens, remembering the mass protests sparked by the reforms, are hopeful for more inclusive governance. Social media discourse reveals a mix of skepticism and cautious optimism regarding Lecornu’s commitment to address public grievances.

The situation in France is fluid and complex. The next few weeks will likely be pivotal for both Lecornu and President Macron, who seeks to reestablish control over a fragmented assembly. With parliamentary votes looming, the focus remains on whether political alliances can shift to stabilize Lecornu’s government for the foreseeable future.



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