France's new Cabinet grapples with budget in first meeting

France's new government is scheduled to hold its first Cabinet meeting on Tuesday, with the main task to get the budget for the financially stricken country off the ground.

Time is of the essence, because if deadlines are not met, France could find itself without an approved budget at the end of the year, putting it under additional economic pressure.

In the afternoon, Prime Minister Sébastien Lecornu, who was brought back into office by President Emmanuel Macron on Friday, is expected to deliver a government statement.

France's left and right-wing groupings in parliament have both tabled motions of no confidence in Lecornu, which are expected to be voted on in the National Assembly on Wednesday.

The direction of Lecornu's government statement is also likely to determine whether the opposition will succeed with its motions and bring down the government just a few days after it has taken office.

The Socialists, in particular, are making their tolerance of the new centre-right government contingent on a significant change of course by the reappointed prime minister.