Why was Baron Haussmann criticized for his handling of public money?

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Portrait of Napoleon III in a dark military uniform with gold epaulettes, a red sash, and medals, set against a deep red background. Painted by Hippolyte Flandrin. — Napoleon III Napoleon III, detail of a portrait by Hippolyte Flandrin, 1862; in the Versailles Museum.

Baron Haussmann faced significant criticism for his handling of public money primarily due to the methods he used to finance his massive urban renewal projects in Paris.

Under the autocratic regime of Napoleon III, Haussmann was granted the authority to raise enormous long-term loans to fund the modernization of the city. These financial maneuvers were executed almost entirely without parliamentary oversight or other forms of public control.1

This lack of transparency and accountability regarding the city's expenditures drew intense scrutiny from the liberal opposition of the time. The mounting criticism over his fiscal management eventually contributed to his dismissal in 1870, following the rise of Émile Ollivier’s liberal government.1