Tags: France | Budget | tax | europe

France Passes Contentious Budget, Heavy on Taxes

Thursday, 20 Dec 2012 06:17 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

France's parliament has passed a contentious budget for next year that includes a raft of new taxes aimed slashing the country's deficit and putting it on the path to economic recovery.

Socialist President Francois Hollande's budget aims to cut 30 billion euros ($40 billion), with two-thirds of that coming in tax hikes, including a 75 percent levy on incomes earned over 1 million euros.

But it was the increase in taxes on profits from investments that raised the most hackles in France, touching off a Twitter revolution of entrepreneurs who accused the government of punishing those who take risks.

The bill, which the conservative opposition complained doesn't make enough spending cuts, has struggled to get through parliament.

The lower house eventually passed it Thursday in a show of hands vote.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

NYT: Accounts Vary Widely on Key Elements of Ferguson Shooting

Tuesday, 19 Aug 2014 23:27 PM

A St. Louis County grand jury in Missouri will hear evidence on Wednesday in the shooting death of Michael Brown by a wh . . .

Lt. Gen. Honore to Ferguson: Put Down Guns, Let People Speak

Tuesday, 19 Aug 2014 22:39 PM

The police response to protests in Ferguson, Missouri, is just making things worse, and officers should put down their g . . .

Mother Mourns US Journalist Purportedly Beheaded by ISIS

Tuesday, 19 Aug 2014 22:28 PM

The mother of American journalist James Foley, who was purportedly beheaded by Islamic militants, said on Tuesday her so . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved