The new French government is trying to fix the country’s economy without middle and low income people noticing it in their wallets.
Finance Minister of the recent French government Antoine Armand says he is considering imposing specific taxes on the rich and companies, so that the country’s deficit can be corrected without inoculating against economic growth.
About that reports Bloomberg.
The first thing the new government has to do is fix France’s public finances after the country has been placed in the EU’s so-called observation category.
Armand is committed to doing this so that middle and low income earners do not notice a change in their income.
– The question we have to ask is, how can everyone in this serious situation participate (in correcting the deficit) sensibly, Armand said.
However, according to Armand, the new taxes should not prevent economic growth or the creation of new jobs.
France already has the highest overall tax rate in Europe. In 2021, the share of tax revenues was 47.3 percent of gross domestic product.