November 24, 2024
French Finance Chief Plans Tax Hikes to Tackle Deficit (1) #FrenchFinance

French Finance Chief Plans Tax Hikes to Tackle Deficit (1) #FrenchFinance

CashNews.co

The French government is studying targeted taxes on the wealthy and large companies as it tries to navigate an urgent need to repair finances without undoing President Emmanuel Macron’s pro-growth reforms, newly appointed Finance Minister Antoine Armand said.

His comments come as investors ditch French assets amid political turmoil, with the risk premium on the country’s debt approaching its highest since the euro-area crisis.

Antoine Armand arrives for a Cabinet meeting in Paris on Sept. 23.

Photographer: Ian Langsdon/AFP/Getty Images

“Apart from one or two years of exceptional crisis in the last 50 years, we have one of the worst deficits in our history,” Armand told France Inter radio on Tuesday.

“The question we need …