France's PM likely to face no-confidence vote after pushing through budget bill

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France's far-right National Rally (RN) party threatened again on Monday to back a no-confidence vote over a budget dispute that could bring down Prime Minister Michel Barnier's centre-right government within days.

RN president Jordan Bardella said that his party would trigger the motion unless "there is a last-minute miracle" over the proposed 2025 social security budget that aims to save the state €60 billion through tax increases and spending cuts. The party's mainstay Marine Le Pen had previously given Barnier an ultimatum of Monday to act.

Parliament is set to vote on the social security bill on Monday afternoon, and the fate of the budget will depend on the RN, as the single largest party in the National Assembly.

If Barnier attempts to circumvent a vote and force through the budget, the RN could force out his government with a no-confidence motion this week. It would be only the second time a French government has been toppled since 1958, and the first since 1962.

While Barnier's administration has made some concessions to the RN — such as scrapping a planned electricity tax last week — Bardella's party is also calling for proposals to delay linking pension rises with inflation to be scrapped, as well as suggested cuts for reimbursements for medications.

"Everything we have proposed in the interest of the French, all the amendments we have tabled in recent weeks, everything has been knowingly despised, ignored," Bardella told RTL radio on Monday.

Later on Monday, French government spokesperson Maud Bregeon told CNews TV channel that "we are still ready negotiate, our door is always open."

Barnier said last week that a no-confidence vote would lead to "a big storm and very serious turbulence on the financial markets."

His government is trying to reduce France's deficit from an estimated 6% of its GDP to 5% next year through the budget squeeze and has warned of a debt crisis similar to that of Greece if the proposed social security bill is not passed. French borrowing costs surpassed those of the Greek government for the first time on record on Monday.

Barnier was only appointed as PM by President Emmanuel Macron in September, and if he falls, he will be the nation's shortest-serving prime minister since 1958.