France Faces Social Security Deficit Risk as Budget Debate Intensifies
PARIS, December 4, 2025 – French Prime Minister Sébastien Lecornu warned today that the absence of a Social Security financing bill (PLFSS) for an entire year could trigger a “total loss of control” over the systemS finances, projecting a potential deficit of 29 to 30 billion euros for 2026. The stark warning came amid ongoing debate in the National Assembly, with Lecornu imploring Members of Parliament to define a deficit target and avert what he described as a looming crisis.
The escalating concern stems from the possibility of France operating without a dedicated budget for Social Security – a situation Lecornu noted was unprecedented, contrasting it with previous instances where a PLFSS was delayed for only two to three months. The Prime Minister revealed he had contacted various administrations ”several days ago” to commission a extensive impact study on the ramifications of a year-long absence of the PLFSS. Failure to act, officials fear, could leave future generations burdened with an unmanageable deficit.
“Is there a scheme in which we can afford for there to be no Social Security financing bill? The answer is no,” Lecornu stated, as reported by LCP. He further cautioned that a lack of budgetary oversight would likely result in a widespread abdication of duty for the resulting deficit.
Lecornu emphasized the National Assembly holds the sole power to define the deficit target and prevent the potential collapse of the Social Security system. He stressed that allowing the situation to unfold would be “a lot of coffee to say the least,” and warned against a scenario where “everyone would wash their hands of this deficit.”
