France

Under Pressure, France Reins-In Tax Hike Plans

The EU already told the French government to stop robbing its people

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France's government said on Thursday it would rein in its plans for a new round of tax increases next year, acknowledging that imposing a bigger burden on companies would put jobs at risk.

President Francois Hollande's Socialist government had originally planned to raise an additional 6 billion euros (5.1 billion pounds) in new taxes next year but acknowledged recently that taxpayers were reaching their limits.

"We will do less than expected," Budget Minister Bernard Cazeneuve said in an interview with Les Echos business daily.