Key Highlights–
- French PM Sébastien Lecornu survives two no-confidence votes in Parliament.
- Socialist opposition demands more concessions amid 2026 budget planning.
- Pension reform suspension threatens Macron’s economic legacy.
French Prime Minister Sébastien Lecornu narrowly survived two no-confidence votes in Parliament on Thursday, securing a reprieve for his newly-formed government and the opportunity to present the 2026 budget. His survival came at the cost of suspending President Emmanuel Macron’s contested pension reform to gain crucial support from the Socialist Party in a deeply divided National Assembly.
Despite this lifeline, the motions underscored the fragility of Macron’s administration midway through his second and final term.
Lecornu Secures Temporary Reprieve in Parliament
On October 16, 2025, French Prime Minister Sébastien Lecornu managed to fend off two no-confidence votes in Parliament, securing a temporary lifeline for his delicate minority government shortly after taking office The first vote, led by the leftist La France Insoumise, garnered 271 votes, just 18 short of the 289 needed to unseat the government. The second, initiated by the far-right National Rally, received only 144 votes due to a lack of left-wing support.
Lecornu’s survival hinged on a key concession: the suspension of President Emmanuel Macron’s controversial pension reform, which sought to raise the retirement age from 62 to 64. This appeased the Socialist leadership, who withheld support for the no-confidence motions, despite some members defecting.
Opposition Demands More Concessions
The Socialists, who withheld their vote of no-confidence, are now demanding further concessions, including a billionaire tax, signaling further political fragility. The failed confidence votes, one narrowly missing by just 18 votes, have amplified calls from both the far-left and far-right for deeper changes, indicating Lecornu could still be ousted during budget talks.
Additionally, the upcoming 2026 budget, which includes austerity measures to reduce the deficit from 5.4% to 4.7% of GDP, remains a massive challenge. With France’s parliament deeply fragmented into left, far right, and centrist blocs, Lecornu must now negotiate support for the budget by the December 31 deadline to avoid further crisis, as reported by Reuters.
Macron’s Pension Reform at Risk
By putting the pension reform on the chopping block, Lecornu threatens to cut off one of Macron’s main economic legacies at a time when France’s public finances are in a perilous state, leaving the president with little in the way of domestic achievements after eight years in office. If Lecornu had lost either vote, he and his ministers would have had to immediately resign, and Macron would have come under huge pressure to call a snap parliamentary election, plunging France deeper into crisis. As a result, the suspension of Macron’s key pension reform threatens to erode one of his central domestic legacies, underscoring the persistent challenges of passing reforms in a fragmented legislature. This has surfaced at a time when France is facing one of most severe political crises in decades.
French Bond Market Remains Calm
The French bond market remained steady after the back-to-back votes, with the government victory expected by investors. Despite the political turbulence, markets have shown resilience, reflecting investor confidence in France’s ability to navigate its current challenges.
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Tough Road Ahead for 2026 Budget
Lecornu now faces weeks of arduous negotiations in parliament over passing a slimmed-down 2026 budget, during which he could be toppled at any point. The debate begins in the parliament’s finance committee on Monday. According to reports by leading news agencies, Yael Braun-Pivet, the president of the National Assembly and an ally of Macron, noted Thursday’s votes displayed a majority in parliament for securing a budget. “The French need to know that we are doing all this work… to give them a budget, because it is fundamental for the future of our country,” she told reporters.
