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France to Present Stopgap Spending Bill to Cabinet on Wednesday

Michel Barnier (Nathan Laine/Bloomberg)

(Bloomberg) -- French Prime Minister Michel Barnier’s outgoing administration will present a stopgap spending bill to the full cabinet on Wednesday, to ensure the country can continue operating without a proper 2025 budget come January. 

The funding bill will allow the government to continue raising taxes from Jan. 1, AFP newswire reported Tuesday, citing Elysee officials. It will also authorize the minimum level of spending vital to keep the state functioning. 

The special legislation is necessary because the far-right National Rally joined forces with a left-wing coalition last week in a no-confidence vote to reject a budget bill and to topple Barnier’s government. French President Emmanuel Macron said on Thursday that he would appoint a new prime minister in the “coming days.”

--With assistance from William Horobin.

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