On Monday, December 23, French Prime Minister François Bayrou announced the formation of the country’s fourth government for 2024, maintaining the political trajectory of the past seven years. The new cabinet comprises “Macronites,” key allies from previous administrations, and two former prime ministers, reinforcing continuity in governance.
The collapse of Prime Minister Michel Barnier’s government earlier this month, prompted by a no-confidence vote, appeared to signal opposition demands for substantial change. However, Bayrou’s cabinet largely maintains the status quo. The team is composed of pro-Macron figures, Bayrou’s confidants, seasoned conservative politicians, and other familiar faces, indicating that President Emmanuel Macron’s political line remains unaltered.
Expectations that the government might open up to social democrats were unmet. This iteration is less politically diverse than Barnier’s administration, which lasted only two and a half months. Former Prime Minister Élisabeth Borne, who handed over power to Gabriel Attal in January 2024, returns as Minister of Education, Research, and Innovation. Another former Prime Minister, Manuel Valls, will oversee Overseas Territories. Once a socialist, Valls has faced criticism for what some perceive as “political opportunism.”
Key ministerial appointments include Gérald Darmanin transitioning from Interior Minister to Justice Minister, Conservative Bruno Retailleau stepping into the Interior Minister role, and Eric Lombard, a former banking executive, taking over as Minister of Economy and Finance. He will collaborate with Amélie de Montchalin, the former EU minister and France’s permanent representative at the OECD, to prepare the 2025 budget.
Many ministers retained their posts, including Defence Minister Sébastien Lecornu, Culture Minister Rachida Dati, Labour Minister Catherine Vautrin, Agriculture Minister Annie Genevard, Foreign Minister Jean-Noël Barrot, and Europe Minister Benjamin Haddad.
This cabinet’s makeup raises questions about its stability. The New Popular Front (NFP), a left-wing coalition, is poised to oppose the liberal 2025 budget unless the controversial 2023 pension reform—raising the retirement age from 62 to 64—is suspended. Bayrou has expressed openness to “tweaks and improvements” but ruled out halting the reform entirely.
The National Rally (RN), led by Jordan Bardella, has adopted a watchful stance. While it declined coalition talks, it offered conditional support to Bayrou’s government, similar to its approach with Barnier’s administration. However, tensions arose over Xavier Bertrand’s potential appointment as Justice Minister, a move the RN opposed. Bertrand refused to serve, citing his values and unwillingness to align with a government influenced by Marine Le Pen’s party.
Bayrou has set a goal to reduce France’s budget deficit to approximately 5% of GDP by the end of 2025, down from over 6% in 2024. Speaking to BFM TV, he emphasized the need to cut “inefficient public spending” and floated the possibility of temporary corporate tax increases to achieve fiscal balance.
Eric Lombard echoed this sentiment during his swearing-in ceremony at the Finance Ministry, stating, “We must reduce the deficit without killing growth. It is this balance that we must seek, and this is what the 2025 budget entails.”
Lombard’s extensive financial background includes leadership roles at BNP Paribas and insurance giant Generali. Most recently, he headed the French public investment fund Caisse des Dépôts, focusing on public housing, infrastructure, and green projects.
Bayrou faces an uphill battle in securing parliamentary support for the 2025 budget and broader governance goals. His reliance on opposition forces, particularly the RN, has sparked criticism and uncertainty. RN leader Bardella dismissed the new government as a “failed coalition,” setting the stage for contentious months ahead.
