France's new government has unveiled a draft austerity budget for 2025, which includes plans for deep tax increases and spending cuts aimed at tackling the huge deficit.
Prime Minister Michel Barnier, a conservative, described the massive fiscal gap as the "sword of Damocles" that could push the Eurozone’s second-largest economy to the brink.
However, the budget plans have angered many in the country and are expected to be fiercely debated in parliament in the coming weeks, with the government's survival on hold.
