France Proposes Axing Two Public Holidays to Tackle Deficit (3)

French Prime Minister Francois Bayrou proposed scrapping two national holidays, part of a drastic effort to repair public finances that’s set to unleash a parliamentary backlash in the fall.

The premier put forward the plans as he unveiled an array of measures amounting to €43.8 billion ($50.9 billion) to pare back the largest deficit in the euro area. Other moves include a new tax on the highest earners, a freeze in pension and welfare payments at 2025 levels, and possible sales of the state’s stakes in companies.

Bayrou said the country is addicted to public spending and in “mortal danger,” ...