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The French authorities’s 2026 finances plans are primarily based on rosy financial assumptions and its belt-tightening measures might fall quick or by no means even take form, the impartial fiscal watchdog mentioned on Tuesday, experiences Reuters.
Reappointed on Friday, prime minister Sébastien Lecornu is racing to current a 2026 finances invoice to parliament earlier than constitutional limits on reviewing the laws run out.
The finances, already submitted to the Haut Conseil des funds publiques (HCFP) for evaluation, goals to scale back the deficit to between 4.7% and 5% of GDP – a modest enchancment from this yr’s 5.4%, the fiscal watchdog mentioned.
The federal government’s plan hinges on a greater than €30bn ($34.7bn/£26.1bn) finances squeeze, together with cuts to company tax breaks, tighter guidelines on social welfare contributions, and new levies akin to a small parcel tax and an distinctive surtax on complementary well being insurers, the HCFP mentioned.
It additionally clamps down on the taxation of holding firms utilized by rich folks to decrease their tax payments, stopping in need of a 2% tax on wealth over €100m ($116m/£87m) as demanded by the Socialists.
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Up to date at 04.57 EDT
Morning opening: Zelenskyy to satisfy Trump in US on Friday as he expresses hope for Ukraine-Russia peace after Gaza deal
Volodymyr Zelenskyy has introduced he’ll journey to the US this week for talks on the potential US provision of long-range weapons, after Donald Trump mentioned he would possibly provide Ukraine with Tomahawk missiles.
Zelenskyy mentioned he would go to Washington and meet Trump on Friday, including that he would additionally meet defence and power firms and members of Congress.
In a publish on X, Zelenskyy confirmed that the Ukrainian delegation, together with prime minister Yuliia Svyrydenko, head of the presidential workplace Andriy Yermak, secretary of the nationwide safety and defence council Rustem Umerov and a number of other representatives of the diplomatic sector, had departed for the US.
US president Donald Trump and Ukrainian president Volodymyr Zelenskyy meet through the United Nations common sssembly in New York final month. {Photograph}: Evan Vucci/AP
Writing on X, Zelenskky mentioned:
I may even have the chance to return to Washington and meet with President Trump on Friday. I imagine we are going to focus on a collection of steps that I intend to suggest. I’m grateful to President Trump for our dialogue and his help. There will likely be a number of different vital conferences – with defence firms, and presumably with senators and members of Congress.
I may even meet with power firms. That is mandatory – it was President Trump’s proposal – and I’ll meet with these firms as a result of there are urgent wants linked to varied codecs of assaults, not even the assaults that Russia has already carried out. In any case, we have to be ready. So, it is going to be useful. Due to this fact, the primary focus of the go to is air defence and our long-range capabilities aimed toward exerting stress on Russia for the sake of peace.
On Monday, Zelenskyy expressed hope for peace in his nation’s conflict in opposition to Russia, as Israel and Hamas carried out part 1 of a Gaza ceasefire plan proposed by the Trump administration. In a publish on X, the Ukrainian president wrote:
When peace is achieved for one a part of the world, it brings extra hope for peace in different areas the place life remains to be beneath risk. In Ukraine, we welcome all of the efforts which have led to as we speak’s consequence for the Center East.
He added:
We’re working in order that the day of peace comes for Ukraine as effectively. Russian aggression stays the final world supply of destabilisation, and if a ceasefire and peace have been achieved for the Center East, the management and willpower of world actors can actually work for us too, in Ukraine, in Europe.
Elsewhere, France’s freshly reappointed prime minister Sébastien Lecornu will give his first coverage speech to parliament as we speak. It’s a high-stakes speech to a deeply divided parliament.
The brand new cupboard is anticipated to current a draft finances on Tuesday that goals for a deficit under 5% of GDP, in keeping with new authorities spokesperson Maud Bregeon. The cupboard should give parliament the constitutionally required 70 days to scrutinise the plan earlier than the tip of the yr.
In Russia, the nation’s Federal Safety Service (FSB) mentioned on Tuesday it had opened a prison case in opposition to exiled Kremlin critic Mikhail Khodorkovsky, accusing him of making a “terrorist organisation” and of plotting to violently seize energy.
Khodorkovsky, an oil tycoon who was as soon as Russia’s richest man, served 10 years in a Siberian jail on fraud expenses that he and plenty of western nations mentioned had been politically motivated.
The FSB mentioned the fees relate to the actions of a Khodorkovsky-backed group that opposes the conflict in Ukraine. The group, known as the Anti-Warfare Committee, has been banned in Russia. There was no instant remark from Khodorkovsky or his representatives.
I’ll deliver you all reactions right here.
It’s Tuesday, 14 October 2025, I’m Amy Sedghi and that is Europe Dwell.
Good morning.
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