Welfare charge may rise
Source: Agencies |
July 15, 2012, Sunday
|
Print Edition
Print Edition
FRENCH President Francois Hollande said yesterday his government was considering raising the CSG social welfare charge as part of measures to cut the country's deficit.
France, which announced 7.2 billion euros (US$ 8.8bn) in new taxes last week to plug a budget shortfall for this year, needs a further 33 billion euros in 2013 to meet its European deficit targets or risk unnerving markets.
"A rise in the CSG is one of the things under study, among other measures," Hollande said in an interview to celebrate France's national day.
Hollande also says a new cost-cutting plan from PSA Peugeot-Citroen is unacceptable and must be renegotiated. The struggling French carmaker unveiled a plan to slash 8,000 jobs and close a major factory in France on Thursday. In his Bastille Day interview Hollande said the government has asked an expert to assess Peugeot's finances.
France, which announced 7.2 billion euros (US$ 8.8bn) in new taxes last week to plug a budget shortfall for this year, needs a further 33 billion euros in 2013 to meet its European deficit targets or risk unnerving markets.
"A rise in the CSG is one of the things under study, among other measures," Hollande said in an interview to celebrate France's national day.
Hollande also says a new cost-cutting plan from PSA Peugeot-Citroen is unacceptable and must be renegotiated. The struggling French carmaker unveiled a plan to slash 8,000 jobs and close a major factory in France on Thursday. In his Bastille Day interview Hollande said the government has asked an expert to assess Peugeot's finances.
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