France has taken action to address its increasing public debts. The new government has announced plans to increase taxes for the wealthy. The budget proposal aims at saving 60 billion euros, which has drawn attention. France is looking for ways to deal with its growing public debts. Following early general elections, the new government is aiming to not only reduce expenses but also increase taxes for wealthy French individuals and companies to close the budget deficit. Emphasizing the need for adjustment during his visit to the capital of Germany, Berlin, President Emmanuel Macron commented on the government’s plan to reduce public debts in the face of the deteriorating financial situation in his country. Macron stated that the solution does not lie in “cutting social spending for short-term adjustment or overtaxation.” Macron evaluated the new tax increases announced by Prime Minister Michel Barnier in the new budget as being “understood by businesses,” and emphasized that the taxation, which he described as “exceptional,” should also be “limited.” Prime Minister Barnier highlighted in his general policy speech at the National Assembly the necessity of reducing the country’s public debt, aiming to reduce the budget deficit as a percentage of gross domestic product (GDP) to 5% this year and 3% by 2029. Barnier stated that they need to reduce public spending and will demand taxes from highly profitable companies and the wealthiest French individuals. The 2025 budget proposal, to be presented to the parliament by the government on October 10th, includes a plan for 40 billion euros in savings and a 20 billion euro tax increase. It is estimated that France’s budget deficit will exceed the EU-mandated limit of 3%, reaching 6% of GDP this year.