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.
- 2 Friends 20th anniversary: Alison Jackson photographs reunited cast
- 3 There is literally not a single woman in this iPhone 6 queue
- 4 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
- 5 Scottish independence: Tory revolt against 'devo max' grows as Rail Minister Claire Perry joins
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: The Queen breaks silence on referendum debate – as think tank warns of £14bn black hole if Scotland votes Yes
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...