France: Bayrou to eliminate two public holidays to boost economy.

To meet a budget savings target of 43.8 billion euros by 2026, Prime Minister François Bayrou has proposed a series of controversial measures. These include: the abolition of two public holidays, including Easter Monday and May 8th, to “increase national production”. 

According to Bayrou, this measure would increase economic activity, generating additional tax revenue and gain in productivity. But the proposal touches on strong symbols: a Christian landmark and a commemoration of victory over Nazism.

Reactions were strong. The CGT denounced an attack on social gains, while opposition parties called it a provocation. Some even threatened to table a motion of censure.

Against a backdrop of *high public indebtedness (debt exceeds 110% of GDP) and economic slowdown, the government is looking for ways to reduce the deficit without massively raising taxes. But these choices, judged to be brutal, run the risk of inflaming social tensions.

This debate raises a central question: The timing of reforms, in the run-up to the municipal elections and in an already fractured society, makes the political equation as delicate as the budgetary constraint.

Reactions were strong. The CGT denounced an attack on social gains, while opposition parties called it a provocation. Some even threatened to table a motion of censure.

Against a backdrop of high public indebtedness (debt exceeds 110% of GDP) and economic slowdown, the government is looking for ways to reduce the deficit without massively raising taxes. But these choices, judged to be brutal, run the risk of inflaming social tensions.

This debate raises a central question: The timing of reforms, in the run-up to the municipal elections and in an already fractured society, makes the political equation as delicate as the budgetary constraint.

source: africa news