The gilets jaunes protestors have labelled the rally ‘Black Tuesday’ and are planning another demonstration this weekend taking it into a fourth successive weekend. Mr Macron had promised a minimum wage rise and tax concessions in response to the public outcry over rising fuel tax and cost of living. In a 12-minute TV address on Monday, he pledged a €100 (£90) per month increase in the minimum wage, taking it to €1498 (£1360).
Mr Macron said: “We are at a historic moment for our country.
“We will respond to the economic and social urgency with strong measures, by cutting taxes more rapidly, by keeping our spending under control, but not with U-turns.”
The defiant president also acknowledged the anger was not just directed at him but had built up for 40 years.
He added: “Their distress doesn’t date from yesterday. We have ended up getting used to it.
“These are 40 years of malaise that have come to the surface. Without doubt we haven’t been able to provide a response that was strong or quick enough.”
Jean-Luc Melenchon, leader of the far-Left France Unbowed party demanded the President does more and insisted another march will go ahead.
He said: “Emmanuel Macron thought he could hand out some cash to calm the citizens’ insurrection that has erupted. I believe that Act Five will play out on Saturday.”
High-school and university students took to their knees with their hands on their head as they continued their strike over school and university reforms.
At the height of the protests, up to five thousand police officers were been deployed across Paris, with officers setting up metal barriers around the Champs-Élysées.
In the past 12 months the price of diesel had risen by around 23% to €1.51 (£1.32) per litre.
Spending for 2019 had proposed a further increase of 6.5 cents on diesel and 2.9 cents on petrol from January 1, 2019.
The 40-year-old decided to scrap those plans after his popularity slumped to its lowest level since taking office 18 months ago.
A recent poll found just one in five French people think Mr Macron is doing a good job and 72 per cent supported the protests according to an Elabe survey for BFM TV.
However Mr Macron’s spending spree announced on Monday which also included a tax cut for most pensioners has seen his allies in Europe warn they will be ‘closely monitoring’ his finances.
The proposals go above and beyond the European Union’s budget deficit ceiling, leaving his government scrambling to come up with extra budget savings or risk blowing through the EU’s 3 percent of GDP limit.
Rules passed in the wake of the 2008 market crash require all member states to have a deficit of less than 3 per cent of GDP.
Ministers said the measures announced would put a 8-10 billion euro hole in the budget, on top of the 4 billion euros lost after Mr Macron scrapped hikes to fuel taxes in a first wave of concessions last week.