Connect with us

Hi, what are you looking for?

Daily Market SolutionDaily Market Solution

Investing

French PM Barnier flags tax hike on the wealthy

By Mathieu Rosemain

PARIS (Reuters) -French Prime Minister Michel Barnier said on Sunday that he would not raise taxes on most French taxpayers, although the wealthiest would have to help close a hole in the budget.

President Emmanuel Macron’s office this weekend unveiled a new government that aims to strike a fine balance between right-wingers and centrists and which he hopes will break the political deadlock that followed a summer snap election.

Its most immediate and daunting task will be to put together a budget for 2025 at a time France is struggling to contain a spiralling budget deficit.

“I’m not going to further increase taxes on all French people, neither on the most modest, nor on people who work, nor on the middle classes. But I cannot exclude the wealthiest from the national effort to rectify the situation,” Barnier told France 2 television.

Barnier, who was the European Union’s lead negotiator during Britain’s Brexit negotiations, also said he was also open to changes to Macron’s pension reform but that any changes should not undermine the pension system’s finances.

He said by way of example that he wanted to better take into account the hardships faced by working mothers over the course of long careers and that he was open to the input of employers and unions.

Barnier also pledged pragmatic measures to limit immigration.

“We need a European response. We need to take action at home too,” Barnier said. “We need to deal with the immigration issue much more rigorously.”

This post appeared first on investing.com







    You May Also Like

    Editor's Pick

    Extremist supporters of former president Donald Trump are lashing out online against Usha Vance, the wife of Trump’s running mate, Sen. J.D. Vance (R-Ohio),...

    Investing

    Overview Energy Fuels (TSX:EFR,NYSE:UUUU) has been the largest producer of uranium in the United States and an emerging producer of rare earth elements (REEs)....

    Investing

    Investor Insight Silver prices breached $30/oz in the second half of May 2024 as investor demand drove prices to their highest in more than...

    Investing

    Overview Flynn Gold Limited (ASX: FG1) is an Australian mineral exploration company with a portfolio of projects in Tasmania and Western Australia. Tasmania is...

    Disclaimer: Dailymarketsolution.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 dailymarketsolution.com