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France’s socialist government has announced a €20bn tax break for businesses in response to calls for a ‘competitiveness shock’ to boost the flagging economy and combat rising unemployment.
The move, one of 35 measures set out by prime minister Jean-Marc Ayrault, was less than the €30bn demanded on Monday by leading industrialist Louis Gallois in a report on France’s declining industrial competitiveness.
Source: FT. Read full article. (link)