France's Socialist government on Friday (28 September) unveiled €30bn worth tax hikes and spending cuts in a bid to bring the public deficit in line with EU rules next year.
Dubbed a "combat budget" by Prime Minister Jean-Marc Ayrault, the fiscal plan is based on sharp tax increases for the rich (75% on millionaires) and for companies expected to bring in €20bn.
The budget is based on the assumption the economy will grow by 0.8 percent.
This may prove difficult, as France'...
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