The Parliament on Thursday approved the Socialist government’s 2013 budget proposal, a rigorous and contested plan to drop the deficit to 3 percent of the gross domestic product with $26 billion in increased taxes on individuals and businesses and savings of $13 billion through a freeze in public spending. Members of the opposition called the tax increases unfair, citing, for instance, a 75 percent rate applied to income over $1.3 million and $13 billion in additional taxes on corporations already worried about high labor costs. Some on the left said the spending cuts were out of step with President François Hollande’s promises to promote growth and avoid austerity measures. The budget was based on growth projections of 0.8 percent for 2013, a figure some economists said was too optimistic.
World Briefing | Europe: France’s 2013 Budget Proposal Approved
This article
World Briefing | Europe: France’s 2013 Budget Proposal Approved
can be opened in url
http://newsservant.blogspot.com/2012/12/world-briefing-europe-frances-2013.html
World Briefing | Europe: France’s 2013 Budget Proposal Approved
