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The French government plans a significant budget overhaul to reduce the deficit, targeting 40 billion euros in spending cuts and 20 billion euros in tax increases. Key measures include a surtax on the wealthiest households and higher corporate taxes for large companies, alongside cuts to social security contributions and subsidies. With public debt soaring to 112% of GDP, the aim is to lower the deficit to 5% by 2025 and below 3% by 2029, amid a challenging political landscape.
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France unveils ambitious budget plan to tackle deficit and restore credibility
09:00 10.10.2024
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