Macron loyalist Roland Lescure named France’s new finance minister
PARIS: French Prime Minister Sebastien Lecornu on Sunday (Oct 5) appointed Roland Lescure, a close ally of President Emmanuel Macron, as finance minister in a new Cabinet that saw several senior ministers from the previous government retain their posts.
Lescure, who rallied behind Macron during his first presidential campaign in 2017, briefly belonged to the Socialist Party earlier in his career. His appointment is widely viewed as a gesture toward the left ahead of challenging cross-party budget negotiations.
The new government faces an immediate test as it seeks to negotiate France’s 2026 Budget. Previous efforts to rein in public spending have led to political turmoil, with both of Lecornu’s predecessors, Francois Bayrou and Michel Barnier, forced out after clashes with parliament.
“This is Bayrou’s government without Bayrou, and it will implement the same policies,” hard-left lawmaker Eric Coquerel told BFM TV.
Former finance minister Bruno Le Maire, who oversaw France’s pandemic-era “whatever it costs” economic response, has been named defence minister. He will now help shape France’s stance on European security as U.S. President Donald Trump pushes the European Union to take greater responsibility for supporting Ukraine.
“The choice of this identical government, seasoned with the man who bankrupted France, is pathetic,” far-right leader Marine Le Pen wrote on X, referring to the deficit that ballooned under Le Maire’s tenure.
COURTING THE LEFT
Several key ministers kept their portfolios, including Jean-Noel Barrot at foreign affairs, Bruno Retailleau at the interior ministry and Gerald Darmanin at justice.
Lescure, 58, will need to balance Macron’s pro-business agenda with appeals to the Socialists, whose cooperation is essential for passing the budget. A former senior executive at Natixis Asset Management, Lescure is also expected to reassure financial markets wary of France’s swelling deficit, the largest in the euro zone.
In an apparent olive branch to the left, Lecornu has proposed a wealth tax excluding business assets to protect companies and jobs. He also ruled out using special constitutional powers to bypass parliament, pledging that “the budget will be passed democratically, not by decree.”
