2024-10-10 23:55:09
Economy
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France Unveils Austerity Measures Amid Budget Crisis
Image courtesy of : AFP (ALAIN JOCARD)
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New York Times - Business
France Unveils Tough Austerity Budget to Mend Its Finances
Politics
Economy
Finance
The French government unveiled an austerity program to address a growing financial crunch, focusing on deep spending cuts and hefty one-off taxes primarily targeting the rich and big corporations. Prime Minister Michel Barnier announced plans to save 60 billion euros in the next year, as France faces one of the worst deficit and debt burdens in Europe. The deficit surged to 6.1 percent of GDP, while the debt skyrocketed to over €3.2 trillion, exceeding 110 percent of GDP. Barnier aims for €110..
n-tv.de
Austerity budget against high deficit: French government cuts budget by 60 billion - n-tv.de
Politics
Economy
Finance
The new center-right government of France under Prime Minister Michel Barnier is launching an austerity budget with 60 billion euros in savings to reduce the high government deficit to below 3% by 2029. One third of the savings is to be achieved through tax increases on companies and high-income households. The austerity budget is facing resistance from the left-wing camp and the right-wing nationalists in parliament, and some government members are also dissatisfied. Since the government does..
EuroNews
French government reveals unprecedented cuts in public spending and tax increases for 2025
Economy
Politics
Finance
The French government has presented a budget plan for 2025 with cuts of 60 billion euros (2% of GDP) in public spending, including 2,200 job cuts, mainly in the education sector. There will also be "exceptional and temporary" tax increases on the wealthiest and large companies, as well as new taxes on aviation and energy.
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