French Prime Minister Michel Barnier has announced that he will not raise taxes on the majority of French taxpayers. However, he indicated that the wealthiest citizens would need to contribute to addressing the budget deficit.

French Prime Minister Michel Barnier said on Sunday that he would not raise taxes on most French taxpayers, although the wealthiest would have to help close a hole in the budget.

French Prime Minister Michel Barnier said on Sunday that he would avoid broad tax hikes, opting instead for tax increases for high earners. Barnier's first major test will be to narrow the budget shortfall and submit a 2025 budget plan on France's financial situation next month.

PARIS (Reuters) -French President Emmanuel Macron appointed Michel Barnier, the European Union's former Brexit negotiator, as his new prime minister on Thursday, after weeks of drawn out talks following an inconclusive snap election.

The new cabinet remains largely dominated by ministers from the ranks of President Emmanuel Macron despite his party’s heavy losses in recent parliamentary elections.

French President Emmanuel Macron named a new government led by Prime Minister Michel Barnier Saturday, marked by a shift to the right 11 weeks after an inconclusive parliamentary election.