France has postponed its 2027 budget vote for the second time as lawmakers struggle to agree on revenue measures. The National Assembly will continue examining the proposals on Tuesday, with 758 amendments still awaiting review. The delay adds pressure on the government as it pursues €43 billion in savings.
Officials aim to reduce the public deficit to 5% of GDP. However, France’s economy contracted by 0.1% in the third quarter, complicating its fiscal plans. Rising fuel prices and protests over living costs have further intensified pressure.
Lawmakers Reverse Pay-TV Tax Increase
Meanwhile, lawmakers removed a proposed doubling of VAT on traditional pay-TV subscriptions. The government initially expected the measure to generate €400 million in additional revenue. However, Canal+ warned that the increase could force subscription price hikes. Consequently, parliamentarians reconsidered the proposal through several amendments.
The government faces another challenge from Article 49.3, which allows it to advance legislation without parliamentary approval under certain conditions. Lawmakers must complete their first reading by November 17.
France Rejects Proposed Crypto Exit Taxes
Significantly, parliament rejected two proposals targeting unrealized cryptocurrency gains. One proposal received 27 votes in favor and 55 against. Another targeted household crypto holdings exceeding €800,000 when owners relocated abroad.
Additionally, lawmakers considered mandatory reporting for self-custodied crypto holdings worth at least €100,000. They previously approved a proposal taxing crypto-to-stablecoin conversions. However, that measure has not become law.
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