Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

France Shuns Austerity With Plan to Cut Debt Burden With Growth

Sept. 9, 2021, 8:00 PM

France set out a plan to tackle its Covid-19 debt mountain by relying on investment to fuel stronger economic growth, resisting any temptation to raise taxes to repair its public finances.

The 2022 budget will deliver on promises to cut corporate tax -- which stood at more than 33% for some companies when Emmanuel Macron took office in 2017 -- to 25% for all firms. It will also continue the phasing out of residency tax, Finance Minister Bruno Le Maire said.

Separately, the government is working on the details of a multi-year investment plan worth tens of billions of euros ...