France unveils a £5.8bn tax take from wealthy and big firms
Thursday 05 July 2012
France's new Socialist government announced a raft of tax rises worth €7.2bn (£5.8bn) yesterday, including heavy one-off levies on wealthy households and big corporations, to plug a revenue shortfall this year from feeble economic growth.
A one-off levy of €2.3bn on those with net wealth of more than €1.3m and € 1.1bn in extraordinary taxes on large banks and on energy firms holding oil stocks were central parts of an amended 2012 budget presented to parliament ahead of a vote later this month.
The measures, in line with President François Hollande's election campaign pledges, should be approved, given the Socialists' clear majority in parliament. Mr Hollande, in power since mid-May, says the rich should pay their share as France battles to cut its public deficit from 5.2 per cent of GDP last year to within 4.5 per cent this year and 3 per cent in 2013.
Have shock jocks gone too far after Rush Limbaugh called Sandra Fluke a slut?
Former Google exec says he has 100,000 emails showing how 'immoral' company avoids paying UK tax
Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?
British man faces court after confessing to slitting two children's throats in Lyon flat
'Swivel-gate': David Cameron goes to war with the press over 'swivel-eyed loons' slur
- 1 Asteroid nine times the size of the QE2 liner to sail pass Earth
- 2 Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?
- 3 British business: We need to stay in the European Union - or risk losing up to £92bn a year
- 4 You thought Ryanair's attendants had it bad? Wait 'til you hear about their pilots
- 5 It’s official: thanks to Stephen Hawking's Israel boycott, anti-Semitism is no more
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Win anything from gadgets to five-star holidays on our competitions and offers page.
iJobs Money & Business
£550 - £600 per day: Orgtel: Fidessa Analyst / PM - Banking - London - Up to £...
£450 - £500 per day: Orgtel: Sourcing Manager - Banking - London - Up to £500p...
To be discussed at interview.: Queen Elizabeth's School: An experienced and ef...
£294.05 - £330.92 per day + 150 per day travel and accommodation: Orgtel: A le...