Dubai Telegraph - Macron rams budget through divided French parliament

EUR -
AED 4.162572
AFN 82.230718
ALL 99.559789
AMD 443.026253
ANG 2.028765
AOA 1040.362007
ARS 1355.593196
AUD 1.791511
AWG 2.042759
AZN 1.920974
BAM 1.946349
BBD 2.28809
BDT 137.691422
BGN 1.954232
BHD 0.427127
BIF 3314.879559
BMD 1.133292
BND 1.490761
BOB 7.85884
BRL 6.636597
BSD 1.133198
BTN 97.436158
BWP 15.642048
BYN 3.708592
BYR 22212.526278
BZD 2.276347
CAD 1.574976
CDF 3258.214799
CHF 0.925556
CLF 0.028541
CLP 1095.247946
CNY 8.327952
CNH 8.286462
COP 4883.639228
CRC 581.37705
CUC 1.133292
CUP 30.032242
CVE 110.612842
CZK 25.099362
DJF 201.800134
DKK 7.463924
DOP 69.354546
DZD 149.971412
EGP 57.79167
ERN 16.999382
ETB 147.328373
FJD 2.610767
FKP 0.868384
GBP 0.860225
GEL 3.11648
GGP 0.868384
GHS 17.622207
GIP 0.868384
GMD 81.035338
GNF 9809.776683
GTQ 8.740559
GYD 237.787491
HKD 8.789939
HNL 29.182559
HRK 7.531817
HTG 148.280008
HUF 410.398523
IDR 19024.57544
ILS 4.173383
IMP 0.868384
INR 97.514067
IQD 1484.612726
IRR 47725.762543
ISK 145.106201
JEP 0.868384
JMD 179.398906
JOD 0.803846
JPY 162.4036
KES 146.797756
KGS 99.106493
KHR 4550.167696
KMF 491.266048
KPW 1019.962955
KRW 1613.706027
KWD 0.347626
KYD 0.944423
KZT 586.810667
LAK 24544.274636
LBP 101542.977249
LKR 337.839577
LRD 226.375337
LSL 21.696915
LTL 3.346317
LVL 0.685517
LYD 6.300915
MAD 10.592902
MDL 19.604979
MGA 5242.019102
MKD 61.500154
MMK 2379.424748
MNT 4006.027823
MOP 9.052445
MRU 44.934499
MUR 50.998597
MVR 17.464012
MWK 1968.528456
MXN 22.75843
MYR 5.003485
MZN 72.422736
NAD 21.351275
NGN 1819.183418
NIO 41.648428
NOK 11.988407
NPR 155.897454
NZD 1.929685
OMR 0.436274
PAB 1.133198
PEN 4.238574
PGK 4.628358
PHP 64.659945
PKR 317.863147
PLN 4.280954
PYG 9066.974164
QAR 4.12575
RON 4.975494
RSD 117.14158
RUB 93.212909
RWF 1604.741694
SAR 4.25312
SBD 9.483782
SCR 16.171525
SDG 680.542771
SEK 11.090255
SGD 1.492257
SHP 0.89059
SLE 25.782165
SLL 23764.551485
SOS 647.674838
SRD 42.102015
STD 23456.859543
SVC 9.915852
SYP 14734.832839
SZL 21.696851
THB 38.08107
TJS 12.318395
TMT 3.977855
TND 3.385714
TOP 2.654285
TRY 43.118819
TTD 7.691652
TWD 36.686706
TZS 3034.390747
UAH 46.786025
UGX 4155.820888
USD 1.133292
UYU 48.673659
UZS 14710.132176
VES 87.397281
VND 29272.936417
VUV 139.313184
WST 3.202299
XAF 652.787309
XAG 0.035153
XAU 0.000353
XCD 3.062779
XDR 0.815222
XOF 652.205632
XPF 119.331742
YER 278.024898
ZAR 21.433971
ZMK 10201.050706
ZMW 32.099139
ZWL 364.919612
  • CMSC

    0.0100

    21.81

    +0.05%

  • SCS

    0.0500

    10.23

    +0.49%

  • NGG

    1.3300

    69.39

    +1.92%

  • RBGPF

    0.1400

    63.59

    +0.22%

  • CMSD

    0.0100

    21.91

    +0.05%

  • RIO

    0.1500

    57.01

    +0.26%

  • GSK

    0.6400

    35.28

    +1.81%

  • BTI

    0.4400

    42.01

    +1.05%

  • BP

    0.3200

    26.91

    +1.19%

  • BCE

    0.2900

    21.65

    +1.34%

  • RYCEF

    -0.0700

    9.31

    -0.75%

  • RELX

    1.0000

    50.12

    +2%

  • JRI

    0.2200

    12.13

    +1.81%

  • BCC

    -0.7500

    94.91

    -0.79%

  • AZN

    1.7200

    68.01

    +2.53%

  • VOD

    0.2300

    8.96

    +2.57%

Macron rams budget through divided French parliament
Macron rams budget through divided French parliament / Photo: Emmanuel DUNAND - AFP

Macron rams budget through divided French parliament

President Emmanuel Macron's government on Wednesday sought to ram its 2023 budget through parliament without a vote as it seeks to lift the country out of an economic squeeze that has sparked strikes and demonstrations.

Text size:

Leery of sparking further social unrest after weeks of disruption from strikes at oil refineries and fuel depots that have caused shortages at petrol pumps, the government waited until after broader strike action and demonstrations on Tuesday before unveiling the controversial measure.

The walkouts have been just one of the challenges facing Macron in his second term in office, after he failed to secure an overall majority in June legislative polls.

The government decided to force through the budget after battling in vain to get it approved by the fractured lower house of parliament.

"We need to give our country a budget," Prime Minister Elisabeth Borne told lawmakers as she announced the use of clause 49.3 of the French constitution, under which a law can be passed automatically unless the opposition passes its own vote of no confidence in the government.

"The French are expecting... action and results from us," she said, to boos from the opposition and applause from supporters.

After promising an open debate, Macron's camp suffered a series of defeats over the first of thousands of proposed amendments to its fiscal plans for next year.

Meanwhile opposition lawmakers have accused the government of wasting their time with debate, given the widely expected forced passage of the law.

"Everything we vote on overnight at the assembly will be taken apart," far-right National Rally spokesman Sebastien Chenu said Tuesday.

But the forces most hostile to the government, on the hard left and far right, have each already ruled out voting for a no-confidence motion brought by the other.

Macron has already vowed to dissolve parliament and call fresh elections if a no-confidence vote is passed.

- 'Live with it' -

Since his re-election earlier this year and the legislative election setback that cost him his majority, Macron and his ministers have promised to be more open to dialogue with the opposition and civil society than during his first five years in office.

But they have rejected allegations from lawmakers that the use of article 49.3 means abandoning those efforts.

The article means "the government has the ability to force the adoption of a bill when in fact the opposition can live with it", Francois Bayrou, leader of the Democratic Movement party allied to Macron, told broadcaster France Inter.

With the passage of the budget all but assured, lawmakers had been left wondering which of their hard-fought amendments might be left in, with the choice entirely up to ministers.

Borne said that "around 100" modifications, including some from the opposition, would be left in.

The budget "has been fed, complemented, amended, even corrected following the debates of recent days," she told MPs.

One senior lawmaker told AFP that the changes, including tax breaks for childcare and for very small businesses, would cost up to 800 million euros ($782 million).

Finance Minister Bruno Le Maire has nevertheless warned Borne that he would not back changes that would blow holes in the budget, another person present at their Monday meeting said.

Looking ahead, the government has already announced that it could also use article 49.3 to pass the Social Security budget, upon which debate is set to begin on Thursday.

D.Naveed--DT