French PM Lecornu will present budget to cut deficit to 4.7% by end-2026, La Tribune reports

PARIS (Reuters) -French Prime Minister Sebastien Lecornu's government will present a budget that will aim to cut the deficit to 4.7% by the end of next year, French financial newspaper La Tribune reported on Monday.

The issue, which is set to be published on Tuesday, said the budget would aim to cut costs by 31 billion euros through a mix of spending cuts and increased revenue.

The budget is expected to include a tax measure targeting holding companies used by the wealthy and will not raise pensions and social benefits in line with inflation, the newspaper reported.

(Reporting by Makini Brice, Leigh Thomas, Richard Lough and Geert De Clercq)