French PM Lecornu suspends Macron's pension reform

Paris [France], October 15: French Prime Minister Sebastien Lecornu has postponed President Emmanuel Macron's controversial pension reform, delaying the planned increase in the retirement age to 64 until January 2028.
"This suspension is intended to create the necessary trust to develop new solutions," Lecornu said on Tuesday before the deputies of the National Assembly in Paris.
Under pressure from at least two looming no-confidence votes, Lecornu faced parliament in a final push to secure backing for a pared-down 2026 budget.
The announcement boosted the newly reappointed prime minister's chances of surviving no-confidence votes expected on Thursday, which were brought by both left and right-wing groupings.
The Socialists had made their tolerance of the new government dependent on whether Lecornu announced a suspension of the controversial pension reform in his government statement.
Pushed through parliament without a vote in March 2023, Macron's flagship pension reform triggered months of nationwide protests. The government defended the move as essential to reducing the pension system's growing deficit.
Lecornu has now called for a renewed debate on reforming the pension system. The system must remain balanced in the long term and must not increase France's already high state deficit, he said.
"The costs of the pension system amount to 400 millioneuros [$463 million] in 2026 and 1.8 billion euros in 2027. This suspension will ultimately benefit 3.5 million French people. It must therefore be financially balanced, also through savings measures," Lecornu said.
The French Socialist Party on Tuesday said it would not back a no-confidence motion in newly reinstated Prime Minister Sebastien Lecornu, boosting the chances of survival for his fragile new government.
Lecornu, who only returned to office on Friday after resigning from the role a few days earlier, is set to face no-confidence votes on Thursday, which are being brought by both left and right-wing groupings.
"We have only one compass, the interests of the country, the interests of the French people," parliamentary leader Boris Vallaud said, explaining the Socialists' position.
Source: Qatar Tribune