France’s new Prime Minister, Michel Barnier, has unveiled a plan to implement targeted tax hikes and public spending cuts in order to address the country’s significant budget deficit. The measures are aimed at both France’s biggest companies and its wealthiest individuals as a means to narrow the gap in public finances.
Barnier, who was appointed just last month, is facing the difficult task of navigating through a fragmented parliament and internal government conflicts to push these reforms forward. The announcement comes at a time when France, like many countries around the world, is grappling with the economic impact of the ongoing global pandemic.
The move to increase taxes on large corporations and the affluent is likely to face resistance from some sectors of society, but Barnier has made it clear that these measures are necessary in order to stabilize France’s economy. The targeted tax hikes are seen as a means to ensure that those who can afford to contribute more do so, while also protecting essential services and programs for the most vulnerable in society.
As the country works towards recovering from the economic challenges brought on by the pandemic, Barnier’s plan will be closely watched to see how it impacts France’s overall fiscal health and economic growth.
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Video “France’s new PM announces targeted tax hikes to plug budget deficit • FRANCE 24 English” was uploaded on 10/02/2024 to Youtube Channel FRANCE 24 English