France

French Government Must Cut Spending, Says National Auditor

Probably wiser than pushing taxpayers to flee

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France's national auditor has warned that further cuts in public spending are needed if the country is to get its ailing economy back on track.

The Cour des Comptes said the deficit is on course to exceed the government's 3.7% target due to lower tax receipts.

A cut in the "weight of public spending seems more necessary than ever", the quasi-judicial body said in a report.

The government forecasts annual growth of 0.1 this year, but other economists have predicted contraction.