On July 15, French Prime Minister Bayrou said he would propose abolishing two national holidays, including Monday's Passover in April and May 8 - commemorating the Allied victory over socialist Germany.
Prime Minister Francois Bayrou's proposal to abolish two holidays is part of a series of measures to reduce the budget deficit of France, which is the largest in the eurozone.
Other measures include applying new taxes to the highest income group while keeping pension and social insurance payments unchanged at the 2025 level.
Mr. Bayrou said that France is heavily dependent on public spending. France's public debt has risen by 5,000 euros per second and it is expected that interest on debts alone could reach 100 billion euros by 2029 if there is no intervention.
In his speech in Paris, he warned France was getting closer to the brink of a public debt crisis.
The French Prime Minister has tabled the draft earlier than expected in September to give lawmakers more time to agree on spending cuts and tax increases.
Prime Minister Bayrou's fiscal plan aims to reduce the budget deficit to 4.6% by 2026 compared to the forecast for 5.4% in 2025. He also pledged to reduce France's deficit to the European Union's regulation level to below 3% by 2029.
