Le Pen calls for national audit amid France’s budget crisis

Marine Le Pen has called for a national audit of France's finances amid a severe budget crisis that threatens the stability of the new government led by Prime Minister Michel Barnier. The crisis has emerged following significant spending increases during the COVID-19 pandemic and the European energy crisis, resulting in France's debt exceeding 110% of its GDP, which is over €3 trillion. This situation has placed France's debt-to-GDP ratio as the third highest in Europe, trailing only Greece and Italy. The budget deficit has escalated to €154 billion, approximately 5.5% of the national economic output, which violates the European Union's 3% limit. This breach could lead to financial penalties from the EU, including potential cuts to recovery funds and subsidies. Le Pen criticized the government's previous assurances that the financial situation was under control, emphasizing the need for a comprehensive audit of state finances. As Barnier prepares to submit a budget to the National Assembly, he faces significant challenges due to a divided parliament. His government is considering tax hikes to address the growing debt, but this proposal has met resistance from Macron's centrist bloc, which advocates for low taxes. Key figures within Macron's faction have expressed strong opposition to tax increases, fearing it could harm France's economic attractiveness. The political landscape remains precarious, with calls for creative solutions to reduce government spending rather than increasing taxes. The situation is tense, and there are concerns that failure to address the budget crisis could lead to a collapse of Barnier's government, further complicating France's financial recovery efforts.