Home -
Industry -
Main body -

WikiFX Express

SBCFX
TMGM
GTCFX
Exness
XM
EC markets
FXTM
AvaTrade
FOREX.com
IC

French PM backs freezing Macron\s pension reform to save government

WikiFX
| 2025-10-14 14:18

Abstract:The changes, which raised the retirement age from 62 to 64, were seen as signature reforms in Emmanuel Macrons presidency.

Sébastien Lecornu announced the planned suspension two days before his new government faced votes of confidence

French Prime Minister Sébastien Lecornu has told parliament he backs suspending controversial 2023 pension reforms, in the face of crucial votes of no-confidence later this week.

The changes, which raised the retirement age from 62 to 64, were seen as signature reforms in Emmanuel Macrons presidency.

This autumn I will propose to parliament that we suspend the 2023 pension reform until the [2027] presidential election, Lecornu said to applause from left-wing parties.

Lecornu was reappointed prime minister last week only four days after he resigned, and needs the support of Socialist MPs in parliament if his government is to survive.

Opposition parties on the far right and far left have called confidence votes, known as censure votes in Lecornu, for Thursday morning and are demanding parliamentary elections.

The Socialists said they would be prepared to support the new government, but only if it promises a complete suspension of Macrons pension changes.

If he does not explicitly say the words ‘immediate and complete suspension of the pension reform’, it will be censure, Socialist MP Laurent Baumel said earlier on French TV.

He is holding his destiny in his own hands. He knows what he has do if he doesnt want to be the prime minister who resigns every week.

The reforms were finally pushed through parliament in March 2023, less than a year after Macron was voted in for a second presidential term.

There had been months of political debate, strikes and street protests, and in the end the bill had to go through without a vote in parliament using a constitutional mechanism known as 49:3.

Last week, Lecornu said it was something many French people remembered as a wound on democracy .

On Tuesday he made it plain to MPs that suspending the pension reform would cost €400m (£350m) in 2026 and a further €1.8bn (£1.57bn) in 2027. This will have to be compensated by other savings, Lecornu said.

Lecornu is Frances third prime minister in the past year but even if he does survive he needs to get a budget through parliament that brings down a budget deficit heading for 5.4% of economic output (GDP) this year.

Frances public debt earlier this year stood at €3.4tn, or almost 114% of GDP, the third highest in the eurozone after Greece and Italy.

Read more:Macron reappoints Lecornu as French PM after days of turmoil

Lecornu has been one of Macrons most loyal allies, so his decision to row back on such a contested reform shows how keen the president is to avoid further turmoil.

Philippe Aghion, who was jointly awarded the 2025 Nobel economics prize on Monday, said earlier that he also backed a suspension of the pension reform, because it would still come at a smaller cost than the instability that would follow another government collapse.

WikiFX Express

SBCFX
TMGM
GTCFX
Exness
XM
EC markets
FXTM
AvaTrade
FOREX.com
IC

WikiFX Broker

FXTM

FXTM

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
DBG MARKETS

DBG MARKETS

Regulated
AvaTrade

AvaTrade

Regulated
GTCFX

GTCFX

Regulated
FXTM

FXTM

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
DBG MARKETS

DBG MARKETS

Regulated
AvaTrade

AvaTrade

Regulated
GTCFX

GTCFX

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
DBG MARKETS

DBG MARKETS

Regulated
AvaTrade

AvaTrade

Regulated
GTCFX

GTCFX

Regulated
FXTM

FXTM

Regulated
XM

XM

Regulated
FXCM

FXCM

Regulated
DBG MARKETS

DBG MARKETS

Regulated
AvaTrade

AvaTrade

Regulated
GTCFX

GTCFX

Regulated

Latest News

India: Growth outlook revised higher – Standard Chartered

WikiFX
2026-09-02 03:51

GODO Expands Global Regulatory Footprint With CySEC and FSCA Licences

WikiFX
2026-09-01 15:47

Love Scam Cost RM260,000 Debt and Family Tragedy of 4 Deaths

WikiFX
2026-09-01 10:36

Canadian Dollar Holds Near 1.386 Ahead of Bank of Canada Decision

WikiFX
2026-09-01 17:07

Euro holds gains above 1.1600 ahead of Eurozone HICP inflation data

WikiFX
2026-09-01 08:57

Silver Price Forecast: XAG/USD trades flat around $66.60 ahead of US data

WikiFX
2026-09-01 11:17

Australian Dollar falls as US-Iran conflict lifts USD, GDP data eyed

WikiFX
2026-09-02 06:39

United States Dollar Index hold gains above 99.50 as Treasury yields hit multi-year highs

WikiFX
2026-09-02 11:23

Xin Synergy Escalates Probe Into Former Directors Over Moneylending Operations

WikiFX
2026-09-03 14:11

Former Banker Gets Seven Years After RM1.58 Million Client Fraud

WikiFX
2026-09-03 14:37

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

Handels ExpertenSystem

Handels ExpertenSystem

Profxgroup

Profxgroup

Crownex Microfinance

Crownex Microfinance

Vestro Assets

Vestro Assets

Nexa Pesa

Nexa Pesa

Growth Bit Profit

Growth Bit Profit

Nrothprime Exchange

Nrothprime Exchange

Top Sky Investment Firm

Top Sky Investment Firm

MineXtream-Hub

MineXtream-Hub

Kawa Finance

Kawa Finance