French President Francois Hollande has given himself two years to turn round France’s economy as he outlined a raft of austerity measures on Sunday.
In one of the country’s toughest budgetary programmes in six decades, he included a controversial 75 per cent tax on the rich along with spending cuts and other taxes totalling 30 bn euros.
During a television interview he said it was an agenda for recovery:
“I’m going to set a timetable of two years for recovery and at the same time two years to set up a policy for employmentand for competitiveness….. I understand people are impatient but I would not try to fix in 4 months what previous presidents could not have accomplished in five or ten years.”
Hollande is facing an up-hill struggle: the French economy has stalled and unemployment is running at around 10 per cent and since his election four months ago his popularity has begun to slide.
With lay-offs due from restructuring plans at large French companies and government pressure being brought to bear on trade unions over changes to the labour market, it’s not sure how much the French public will accept.
Copyright © 2014 euronewsMore about:
- 1International investigators reach MH17 crash site in Ukraine
- 2Ukrainian prime minister’s triumphant speech after resignation rejected
- 3#ن: How an Arabic letter was reclaimed to support Iraq’s persecuted Christians
- 4Fresh Israeli shelling hits UN school injuring scores of children
- 5Rosetta the comet hunter arrives at its target
- 1Caught on camera – children drugged and beaten in Romanian kindergarten
- 2Scientists baffled by two new holes discovered in Siberia
- 3Russia defiant in face of tough EU-US sanctions
- 4#ن: How an Arabic letter was reclaimed to support Iraq’s persecuted Christians
- 5Gaza: Deaths at Jebalya school after Israeli strike
- 1#ن: How an Arabic letter was reclaimed to support Iraq’s persecuted Christians
- 2Air Algerie plane ‘crashes’ over Sahara
- 3Eastern Ukrainians ‘hate Russian-led guerrillas’ — Arseniy Yatsenyuk
- 4Ukraine: ‘Disappointment’ at Yatsenyuk resignation
- 5Caught on camera – children drugged and beaten in Romanian kindergarten
Wires > News
- 05:15 CET Disappointment, uncertainty after India blocks WTO trade deal
- 03:57 CET Taiwan gas blast kills 22, injures 270, shoots flames high into…
- 02:42 CET Sudanese woman who had faced execution for conversion arrives in…
- 02:07 CET For wandering tankers with $300 million of Kurdish crude, end-game…
- 00:47 CET Sierra Leone declares emergency as Ebola death toll hits 729
- 00:01 CET Iraqi Kurds, battling Islamist threat, press Washington for arms
- 23:11 CET Game of thrones- Afghan leadership vacuum raises summit questions
- 20:00 CET Ukraine premier stays on, envoys agree on crash site route