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French PM vows tax cuts for companies, households

April 8, 2014
Associated Press

PARIS (AP) — France's new prime minister is promising massive tax cuts for corporations and households, and the elimination of half of the country's administrative regions as he faces a confidence vote from lawmakers.

Manuel Valls said Tuesday the elections last month showed France had "too much suffering and not enough hope" with unemployment hovering around 10 percent and little hint of future growth. Valls was appointed by French President Francois Hollande to sell the unpopular leader's plans to turn around the economy. He said new proposals include 30 billion euros ($41 billion) in cuts to payroll taxes, as well as cuts to corporate income taxes and household taxes.

France hopes to trim 50 billion euros ($69 billion) from the budget, and persuade businesses to hire.



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