France’s new prime minister François Bayrou has selected Eric Lombard, head of state-backed financial group Caisse des Dépôts, as finance minister, handing him the key role of trying to enact a budget for next year.
Lombard will be tasked with coming up with a taxation and spending plan for 2025 that can be approved by France’s raucous hung parliament, while also starting to repairs the country’s degraded public finances.
Bayrou’s predecessor, Michel Barnier, was ousted by the National Assembly in a vote of no confidence earlier this month because of opposition from leftwing and far-right political parties to his deficit-cutting budget.
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