French parliament strikes down wealth tax demanded by Socialists
Move spells more political chaos ahead for embattled Prime Minister Sébastien Lecornu
Move spells more political chaos ahead for embattled Prime Minister Sébastien Lecornu

Prime minister under pressure to find agreement by the end of the year

Socialists back government bill to deliver razor-thin majority in lower house of parliament

Socialist party pledges support for social security budget but centrist and rightwing lawmakers threaten to withhold backing

Olivier Faure gives prime minister ultimatum to increase taxes on country’s wealthiest or face no-confidence vote

Former president is a moderate voice within centre-left party that has threatened to topple the government

Sébastien Lecornu comes under pressure even before he has appointed ministers or laid out his draft 2026 budget