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Thread: France risks ‘social explosion’ over high taxes

  1. #31
    France to cut 50 billion euros in spending in 2015-17: Hollande


    French President Francois Hollande said on Tuesday he would cut public spending by 50 billion euros ($68 billion) in 2015-17 and ease the tax burden on companies by phasing out hefty family welfare payroll charges. The pledges followed a New Year's address in which the Socialist president vowed to accelerate reforms geared at shrinking the public deficit, reviving growth and reducing record joblessness in Europe's number two economy.
    "In 2014, this year, we will save 15 billion (euros)," Hollande told a news conference at the Elysee presidential palace. "In 2015 to 2017 we will unblock 50 billion more. This has never been done before."
    The savings would be achieved by a thorough review of all public spending, including the operations of local authorities, though France's social welfare model would be preserved.
    Hollande said 18 billion euros would be cut in 2015, 18 billion in 2016 and 17 billion in 2017 - a slight acceleration of the pace laid out in previous budget plans but barely half of the 80 to 100 billion euros in savings which many economists say are needed.
    The deficit is due to fall to 3.6 percent of gross domestic product this year, and below the EU's 3 percent ceiling in 2015.
    Hollande detailed several measures designed to help companies regain a competitive edge in terms of labor costs, taxes and regulatory complexity in exchange for precise commitments on hiring and job training.
    "France must not only regain growth in 2014, but growth that is as strong as possible," he said. "There is a simple principle which is to reduce costs for companies, reduce constraints on their activity and in exchange open the way to more hiring."
    He said family welfare charges paid by employers and the self-employed - a longstanding pillar of social funding - would be phased out by 2017, reducing the corporate tax burden by 30 billion euros, but family allowances would not be reduced.
    He also said he opposed reducing the generous size and two-year duration of unemployment benefits, saying the high jobless rate made the timing inappropriate.
    He did not spell out how family benefits would be funded in future but hinted it might be by replacing over several years a tax credit he introduced to bolster companies' competitiveness.
    Hollande, who raised taxes in his first year to curb the deficit under pressure from European partners, said the overall tax burden would start to fall in 2015 and companies would have a clear picture of future tax changes until 2017.
    While no major crackdown on welfare fraud was needed, the government would act to reduce waste in the health system by cutting back on pointless medical visits and prescriptions and increasing use of generic medicines, he said.
    In return for the pro-business measures, Hollande said companies would have to commit to hiring targets, notably for young people and older workers, as well as job training.
    The government would put a roadmap for reform to trade unions and employers as the basis for negotiations to agree on targets that would be turned into law by parliament later this year, he said.
    France to cut 50 billion euros in spending in 2015-17: Hollande | Reuters

    I don't know how he could cut public spending by 50 billion euros ($68 billion), besides destroying the French military spending, public service, and wellfare, except if his gang find other ways to tax.

    That's what happening when a supra national entity control our sovereignty and when we lose the ability to create our own money, they enslave nations and they generate people misery.
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  2. #32
    I recently learned that our great French minister of economy fall asleep during a meeting! No wonder why our economy sunk, only the socialists can do it...


    Moscovici: 'I Wasn't Asleep, Stop French Bashing'


    The French Finance Minister Pierre Moscovici took to Twitter on Wednesday to deny that he had fallen asleep during Cypriot bailout talks, slamming what he called "French bashing." A Reuters report on Wednesday suggested that Moscovici had nodded off during bailout talks for Cyprus on March 24 and that International Monetary Fund chief, Christine Lagarde, had to nudge him awake.
    The story suggested that France had lost its political voice in Europe after it was reported that Lagarde had remarked, "Now I understand why we don't hear France's voice.''
    Moscovici: 'I Wasn't Asleep, Stop French Bashing'
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  3. #33
    Guerilla at the ecotaxe gates in France, the red hats are back to the fight.

    Scènes de guérilla au portique écotaxe - Vidéo Dailymotion

    Manifestants et CRS s'affrontent à Brech - Vidéo Dailymotion

    Bretagne : heurts entre la police et les militants anti-écotaxe
    http://www.leparisien.fr/economie/bretagne-heurts-entre-la-police-et-les-militants-anti-ecotaxe-15-02-2014-3594367.php



    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  4. #34
    I love Pierrot, his blog is very informative.

    Keiser Report: France's Financial Horror Movie


    Pierre's interview starts at 12:30 on the video.

    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


  5. #35
    France’s centre-right savours defeat of François Hollande

    High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. France’s centre-right savours defeat of Franois Hollande - FT.com

    Almost two years after the painful defeat of former French president Nicolas Sarkozy, his centre-right UMP party has once again enjoyed the intoxicating taste of election victory.
    The question now is whether the UMP can convert its heavy defeat of incumbent President François Hollande’s Socialist party in local elections into a convincing push for a return to national power in 2017.


    High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. France’s centre-right savours defeat of Franois Hollande - FT.com

    It has some big challenges to overcome, notwithstanding the scale of its win on Sunday. The party remains riven by leadership rivalries. It faces a rising insurgency to its right from the National Front of Marine Le Pen. And it is far from having a settled policy offering.
    Sunday’s results at least restored some much-needed brio to the party. Overshadowed in the first round of voting by a headline-grabbing breakthrough by the FN, the UMP was the clear winner in the second round of voting.
    Although it failed to seize the cherry of Paris from the socialists, it took most of the rest of the cake.
    According to interior ministry figures, the UMP and its allies took control of 572 towns with a population above 10,000, up from 433 in the last local elections in 2008. The socialists and other left parties tumbled to 349 from 509.
    The result should enable the right to win back a majority in the Senate, the lower house of parliament, in a September vote as senators are elected largely by local councillors.
    France’s centre-right savours defeat of Franois Hollande - FT.com

    The French socialists lost, their policy never worked, and never will. The French rejected the austerity and the financial enslavement, the politicians should learn their lesson!
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


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