Paris, 24 October 2025 (dpa/MIA) - French Prime Minister Sébastien Lecornu came under renewed pressure over a planned austerity budget as the Socialists demanded Friday a wealth tax and a higher taxation rate on both high-tech firms and major inheritances.

Without these concessions, the Socialists would withdraw their support for the center-right government, Socialist leader Olivier Fore said in an interview with BFMTV at the start of difficult budget consultations.

The Socialists had not joined the opposition's vote of no confidence last week after the prime minister had promised to suspend President Emmanuel Macron's controversial pension reform.

The Socialist leader has now emphasized that Lecornu must make significant changes to his draft budget by Monday, "otherwise it's really over."

At the start of the budget debate in the National Assembly, Lecornu said that France's budget deficit should be reduced to below 5% in 2026 after 5.8% last year and an expected 5.4% this year.

France is heavily indebted and the European Union opened an excessive deficit procedure against France in 2024. Lecornu's draft budget envisages savings of around €30 billion.

It remains to be seen whether the divided parliament will be able to have enough common ground to pass an austerity budget.

Lecornu has promised that he will not push the budget through parliament without a vote, which is possible using a special regulation that exists in French law. He has called on lawmakers to work out a compromise.