[REVISION HISTORY]

France economic and pension reforms 2026-2027

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2026-11-01 07:16 UTC → 2026-11-02 09:45 UTC · added ~~removed~~

Throughout 2026, France’s retirement system underwent significant regulatory and fiscal shifts. In August and September, new rules were implemented to adjust pension calculations for parents, though the Caisse nationale d’assurance vieillesse (CNAV) reported technical delays. As the government prepares its 2027 budget, it is targeting approximately 54 billion euros in savings to reduce the public deficit from 5.4% to 5% of GDP. On October 1, the government presented a finance bill including a 2.1% income tax bracket update to compensate for inflation, a reduction in the 10% pension tax allowance ceiling from 4,439 to 3,000 euros, and an exceptional 17% levy on unclaimed assets held by the Caisse des dépôts. Legislative efforts to fund social security face intense opposition. In mid-October, the National Assembly suspended debates on the state budget to examine the 2027 Social Security financing bill, following a week where deputies modified the state budget in ways that increased the projected deficit by €10 billion. By late October, the National Assembly rejected the 2027 Social Security budget almost unanimously, sending the text to the Senate. Regarding the 2027 Finance Bill, the Assembly has engaged in volatile debates over corporate taxation. In a narrow 79 to 77 vote, deputies removed a planned surtax on companies with annual turnovers exceeding 1.5 billion euros, a move estimated to cost 5 billion euros in revenue. However, deputies adopted an amendment to change how corporate income tax is calculated for multinationals to curb tax optimization. By late October, left-wing deputies pushed through further amendments, including a proposed tax on digital data flows from internet content providers, a 5% tax on super-dividends, and a 10% tax on share buybacks by CAC40 companies. ~~On October 30, the National Assembly passed an amendment to the 2027 finance bill to impose a “digital data producer tax.”~~

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