French PM Proposes Elimination of Two Holidays to Tackle National Debt Crisis

Facing political resistance, Bayrou emphasizes the urgent need for financial reform in France.

France's Prime Minister François Bayrou has ignited a heated national debate with his recent proposal to eliminate two public holidays as part of a strategy to address the country’s spiraling national debt. In a bold move embedded in his 2026 budget plan, Bayrou suggested scrapping Easter Monday and May 8th, a significant day marking the Allied victory in World War II. He dubbed the numerous holidays in May as creating a "gruyère" effect — full of holes — weakening productivity.

Addressing the nation, Bayrou expressed that France, as the eurozone's second-largest economy, was at risk of being "crushed" under the weight of its debt. He presented a series of sweeping reforms aimed at curbing the annual budget deficit, including freezing public spending, eliminating tax breaks for affluent citizens, and reducing the civil service workforce. Additionally, the budget must factor in a proposed increase in defense spending by €3.5 billion (£3 billion) next year and a further €3 billion in 2027, as advocated by President Emmanuel Macron.

The proposal to cut the two May holidays has attracted immediate backlash. The far-right National Rally party condemned the suggestion as an affront to French heritage and labor rights, while Green Party leader Marine Tondelier mourned the potential loss of a day honoring the fight against fascism. Bayrou defended his approach as "basic arithmetic," stressing that in order to meet budgetary goals—aiming to reduce the deficit from 5.8% last year to below 4.6% next year, and below 3% by 2029—France needed to identify savings in excess of €40 billion.

Having assumed the role of Prime Minister only in December, Bayrou is already facing a precarious political landscape. His predecessor, Michel Barnier, was ousted following a no-confidence vote after proposing a stricter budget. The pressures mount as opposition factions, including the radical left and far-right parties, threaten to repeat that history. Both Jean-Luc Mélenchon of France Unbowed and National Rally leader Marine Le Pen have indicated that they could push for Bayrou's removal if he persists with his austerity plans.

In response to press inquiries, Bayrou reflected on the necessity of change to achieve fiscal responsibility, even highlighting the potential risks of parliamentary backlash. Given the current fragmented state of the French parliament, anticipated opposition may complicate any forthcoming votes. Should his administration collapse, President Macron faces a dire choice between appointing a successor or bringing in a technocratic government—options unlikely to sit well with lawmakers. With Macron's approval ratings dipping under 25%, calls for his resignation have become more frequent even though he remains steadfast in his intention to serve through his second term, which extends to 2027.