French Government Seeks €53 Billion of Spending Cuts, Tax Rises

France’s government aims to achieve €53 billion ($54.6 billion) of savings as part of its plans to narrow the country’s deficit, according to Budget Minister Amelie de Montchalin.

This would include a €32 billion reduction in state expenditure and €21 billion of additional tax revenue, she told TF1 television in an interview on Wednesday.

Amelie de Montchalin

Photographer: Mathilde Kaczkowski/AFP/Getty Images

“In this budget, we’re going to make an historic effort to reduce public spending,” she said. “We are not going to raise taxes on middle- and working-class people.”

The minister said she expects to reach a deal on the delayed 2025 budget this ...