French PM's debt control plan criticized

French Prime Minister Francois Bayrou has unveiled a controversial plan to slash 43.8 billion euros ($51 billion) from state spending, warning that mounting debt poses a "mortal danger" to the nation.

The budget plan proposes to freeze pensions and civil service salaries, cap welfare spending, reduce healthcare expenditure by 5 billion euros, cut public sector jobs, introduce a "solidarity contribution" for "the wealthiest", and eliminate pensioners' business expense breaks.

Bayrou sparked protests from opponents by suggesting two public holidays could be cut in an effort to tackle the country's growing deficit, strengthen the economy, and prevent France from being "crushed" by debt.