Budget of France
Encyclopedia
The Budget of France, setting revenues and spending levels is set after approval of the national assembly and the senate. The french Constitution
provides for a maximum of 70 days between the budget being proposed to parliament and it being approved. Article 40 of the Constitution stops the national assembly and senate from making any amendments to the total spending and revenue amounts proposed by the government.
Once approved by parliament the government may make adjustments of up to 2% to the budget without having to seek further parliamentry approval.
In 2011 the government introduced a bill to amend article 34 of the Constitution to ensure a balanced budget (Golden Rule
).
The french budget concerns only spending and revenue by central government. It thus excludes the Social Security budget and regional and local authorities budgets.
Constitution of France
The current Constitution of France was adopted on 4 October 1958. It is typically called the Constitution of the Fifth Republic, and replaced that of the Fourth Republic dating from 1946. Charles de Gaulle was the main driving force in introducing the new constitution and inaugurating the Fifth...
provides for a maximum of 70 days between the budget being proposed to parliament and it being approved. Article 40 of the Constitution stops the national assembly and senate from making any amendments to the total spending and revenue amounts proposed by the government.
Once approved by parliament the government may make adjustments of up to 2% to the budget without having to seek further parliamentry approval.
In 2011 the government introduced a bill to amend article 34 of the Constitution to ensure a balanced budget (Golden Rule
Golden Rule
Golden Rule may refer to:*The Golden Rule in ethics, morality, history and religion, also known as the ethic of reciprocity*Golden Rule savings rate, in economics, the savings rate which maximizes consumption in the Solow growth model...
).
The french budget concerns only spending and revenue by central government. It thus excludes the Social Security budget and regional and local authorities budgets.
Public spending in 2010
| Item | Central Government | Social Security | Local & Regional Government | Quasi-governmental bodies | Total |
|---|---|---|---|---|---|
| Expenditures (billion €) |
454 | 513.7 | 210.6 | 113.1 | 1291.4 |
| Revenues (billion €) |
332.4 | 490.8 | 209.1 | 121.9 | 1154.2 |
| Surplus/Deficit (billion €) |
-121.6 | -22.9 | -1.5 | 8.8 | |