France To Squeeze Businesses
PARIS -- France's parliament has passed a budget amendment that raises a slew of new taxes on businesses and the wealthy while barely cutting spending.
The final version of the law was agreed Tuesday by both houses of the legislature, the National Assembly and the Senate.
The law revises the 2012 budget after economic growth fell short of projections, and sets the tone for President Francois Hollande's Socialist administration. It rolls back several measures the previous, conservative government passed to shake up a hidebound labor market. It eliminates a tax break on overtime pay, for example.
The government has promised the 2013 budget will include spending cuts, but economists worry the new leaders don't understand how urgently France needs to reduce costs. Ballooning debt has forced other European countries to seek bailouts.
About Comments
Reader comments on Sacbee.com are the opinions of the writer, not The Sacramento Bee. If you see an objectionable comment, click the "Report Abuse" link below it. We will delete comments containing inappropriate links, obscenities, hate speech, and personal attacks. Flagrant or repeat violators will be banned. See more about comments here.
- Heart attack kills NY dad who lost 6 kids in fire
- Does California State Fair need to change? With its attendance flat, some say yes
- California Gov. Jerry Brown upsets environmentalist friends with his CEQA critique
- Iran, al-Qaida, Taliban told to pay $6B for 9/11
- Woman's body stolen from NJ mausoleum
- NY couple, 85, to remarry 48 years after divorce
- Sacto 9-1-1: Folsom prison inmate attacked, stabbed in exercise yard
- Capitol Alert: Dozens of lawmakers donate to Gov. Brown's tax initiative
- The State Worker: CA Faculty Assn. wants members to ratify tentative deal
- The Swarm: Sacramento council poised to hike fines for false alarms
Quick Job Search
| Enter Keyword(s): | Enter a City: |
| Select a State: | Select a Category: |
Advanced Job Search | Search by Category
| Buy |
Used Cars
Dealer and private-party ads Make:
Model:
Price Range:
to
Search within:
miles of ZIP
Advanced Search | 1982 & Older
Get the Deal!
Local Deals
Find more great deals!
findnsave.sacbee.com
Source: Sacramento Bee. Read full article. (link)
Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time.