FOCUS – France Seeks €30 Billion in Savings; Lecornu Weighs Ministerial Pay Cuts

French Prime Minister Sébastien Lecornu faces a major challenge in preparing the 2027 draft budget: finding around €30 billion in savings to reduce the deficit and public debt, Euronews.com reports.

The issue was at the center of a government seminar held this Thursday, as the government weighs several spending-cut measures.

Among the proposals under discussion are savings on pensions, reducing the exceptional contribution of large companies and introducing taxes on employee savings.

According to BFMTV, another measure under consideration is cutting the salaries of ministers and ministerial cabinet advisers, as well as a 10% reduction in compensation for deputies and senators.

However, the latter is Parliament’s competence, according to Prime Minister Lecornu’s circle.

Currently, the French prime minister receives €16,038 gross per month, while each of the government’s 36 ministers receives €10,692 gross per month.

The payment includes the base salary, housing allowance and function allowance.

A pay cut would bring Lecornu closer to the decision taken by former president François Hollande in 2012. Hollande cut his own compensation and that of his government’s ministers by 30%.

Economist Pascal de Lima suggests that, in addition to salaries, the number of ministers, the size of cabinets, official vehicles, travel, service apartments and support structures should also be considered.

He warns, however, that not all of these expenses should be considered privileges, as some relate to the security and normal functioning of the government.

Compared to other European countries, French ministers, at around €11,000 gross per month, are paid more than their counterparts in Italy, Portugal and Spain, while ministers in Denmark and Germany receive significantly higher salaries.

Sources: Euronews.com, BFMTV