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 This material may not be published, broadcast, rewritten or redistributed.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.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Report: Obama Had Detailed Intelligence on ISIS Emerging Threat

Tuesday, 02 Sep 2014 14:15 PM

President Barack Obama received a sophisticated daily intelligence briefing about the rise of the Islamic State for at l . . .

Video Purports to Show Beheading of US Journalist

Tuesday, 02 Sep 2014 13:18 PM

An Internet video purports to show the beheading of U.S. journalist Steven Sotloff by the Islamic State (ISIS). Sotloff, . . .

Sen. Ron Johnson: We Are Already at War With ISIS

Tuesday, 02 Sep 2014 13:11 PM

America is already at war with ISIS, so returning to the fight is a misnomer, Sen. Ron Johnson, a Wisconsin Republican,  . . .

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