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New French PM Gives up Predecessor's Idea to Cut Back Two Public Holidays

Published by Global Banking & Finance Review®

Posted on September 13, 2025

1 min read

Last updated: January 21, 2026

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Tags:public policy Government funding economic growth

Quick Summary

French PM Sebastien Lecornu drops a plan to cut public holidays amid budget concerns following Fitch's downgrade of France's credit rating.

French PM Abandons Plan to Reduce Public Holidays Amid Budget Concerns

French Government's Budget Strategy

PARIS (Reuters) -New French Prime Minister Sebastien Lecornu told French daily La Provence on Saturday that he was dropping a proposal by his predecessor to cut back two public holidays as part of budget measures aimed at reducing the deficit.

Impact of Fitch's Downgrade

Reacting to news that credit rating agency Fitch had downgraded France's sovereign credit score to A+ on Friday - the country's lowest level on record - Lecornu was quoted as saying: "We are paying for the instability."

Challenges for the New Prime Minister

Fitch's decision piles pressure on Lecornu just days into the job as he scrambles to form a cabinet and draft a 2026 budget that can pass a deeply divided parliament.

(Reporting by Dominique Vidalon; Editing by Joe Bavier)

Key Takeaways

•French PM Sebastien Lecornu cancels plan to reduce public holidays.
•The decision follows Fitch's downgrade of France's credit rating.
•France's credit rating is now at its lowest level on record.
•Lecornu faces challenges forming a cabinet and drafting a budget.
•The French government is addressing budget deficit concerns.

Frequently Asked Questions about New French PM gives up predecessor's idea to cut back two public holidays

1What proposal did the new French Prime Minister drop?

New French Prime Minister Sebastien Lecornu announced he was dropping a proposal by his predecessor to cut back two public holidays.

2What was the reason for the pressure on Lecornu?

The pressure on Lecornu increased after credit rating agency Fitch downgraded France's sovereign credit score to A+, the country's lowest level on record.

3What challenges is Lecornu facing early in his term?

Lecornu is facing the challenge of forming a cabinet and drafting a 2026 budget that can pass a deeply divided parliament.

French Government's Budget Strategy

Impact of Fitch's Downgrade

Challenges for the New Prime Minister

Fitch's decision piles pressure on Lecornu just days into the job as he scrambles to form a cabinet and draft a 2026 budget that can pass a deeply divided parliament.

(Reporting by Dominique Vidalon; Editing by Joe Bavier)

Key Takeaways

•French PM Sebastien Lecornu cancels plan to reduce public holidays.

•The decision follows Fitch's downgrade of France's credit rating.

•France's credit rating is now at its lowest level on record.

•Lecornu faces challenges forming a cabinet and drafting a budget.

•The French government is addressing budget deficit concerns.

Frequently Asked Questions

1What proposal did the new French Prime Minister drop?

New French Prime Minister Sebastien Lecornu announced he was dropping a proposal by his predecessor to cut back two public holidays.

2What was the reason for the pressure on Lecornu?

The pressure on Lecornu increased after credit rating agency Fitch downgraded France's sovereign credit score to A+, the country's lowest level on record.

3What challenges is Lecornu facing early in his term?

Lecornu is facing the challenge of forming a cabinet and drafting a 2026 budget that can pass a deeply divided parliament.