Tax hikes on the rich in new French budget - 13 WTHR Indianapolis

Tax hikes on the rich in new French budget

Posted: Updated:
PARIS, FRANCE -

France's Socialist government wants to raise €7.2 billion ($9 billion) in new revenue from higher taxes on estates, banks and oil companies to try to reduce the deficit.

The measures are among those in a revised 2012 budget draft presented at a Cabinet meeting Wednesday. It will go to parliament later this month, where it is expected to win approval.

France's new leadership has criticized austerity measures imposed around Europe, saying they are making the region's debt crisis worse. It has focused on higher taxes for the well-off, though some spending cuts are also expected.

Prime Minister Jean-Marc Ayrault, speaking at a Fourth of July event at the U.S. Embassy, warned that Europe's debt crisis "has not been extinguished" and that it's not a "problem of the Europeans alone."

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Powered by WorldNow
Links to the FCC website to view WTHR and/or WALV’s on-line public inspection files:
WTHR: https://stations.fcc.gov/station-profile/WTHR   ||   WALV: https://stations.fcc.gov/station-profile/WALV
Individuals with disabilities may contact Jill Pursell at publicfile@wthr.com, or 317.655.5602, for assistance with access to the public inspection files.
Powered by WorldNowAll content © Copyright 2000 - 2013 WorldNow and WTHR. For more information on this site, please read our Privacy Policy and Terms of Service.