France announces budget plan, which
includes the bulk of which raise government revenues
After one day of Spain Declaration budget plan for 2013 the French government has also announce their own budget plan self period and there is great difference the difference between them and that they were meeting the same goal but differed in the implementation mechanism.
The plan announced by the government today is the first part of fiscal reform steps within the country, budget plan for 2013 primary objective of reducing the budget deficit to 3% from 4.5% for the current year to be up to levels of 0.3% in 2017.
And plan aims to save about 30 billion euros - the financing gap - by raising taxes - which is the largest part of the plan - next to cut public spending in a simple and austerity plan is the largest in three decades.
Raise taxes
According to the French government about the plan to increase public revenues it was decided to raise the high taxes - temporarily - on profits of more than one million euros to 75%, and 45% on profits of more than 150 thousand euros.
Raising taxes will be levied on dividends and returns resulting from investments next stop exemption on capital gains realized from the sale of shares in addition to the cancellation of some temporary tax exemptions.
Also reduce the value of the amount of loan interest paid by companies and which is deducted from the tax base.
Growth
The government is targeting growth of 0.8% by the end of 2013 which was confirmed by French Finance Minister today and that there was some uncertainty in the market towards that in light of what ails France from economic weakness and high unemployment rate to historic levels.
It should be noted that the public debt amounted to 91% of GDP, which is the largest since the period after the Second World War, and the adoption of the government to raise more revenue from public spending cuts have thrown some of the criticism within the country and whether France - second largest economies of the euro zone - are still able to borrow from the market yield little like return on German bonds and levels of just below 2%.
After one day of Spain Declaration budget plan for 2013 the French government has also announce their own budget plan self period and there is great difference the difference between them and that they were meeting the same goal but differed in the implementation mechanism.
The plan announced by the government today is the first part of fiscal reform steps within the country, budget plan for 2013 primary objective of reducing the budget deficit to 3% from 4.5% for the current year to be up to levels of 0.3% in 2017.
And plan aims to save about 30 billion euros - the financing gap - by raising taxes - which is the largest part of the plan - next to cut public spending in a simple and austerity plan is the largest in three decades.
Raise taxes
According to the French government about the plan to increase public revenues it was decided to raise the high taxes - temporarily - on profits of more than one million euros to 75%, and 45% on profits of more than 150 thousand euros.
Raising taxes will be levied on dividends and returns resulting from investments next stop exemption on capital gains realized from the sale of shares in addition to the cancellation of some temporary tax exemptions.
Also reduce the value of the amount of loan interest paid by companies and which is deducted from the tax base.
Growth
The government is targeting growth of 0.8% by the end of 2013 which was confirmed by French Finance Minister today and that there was some uncertainty in the market towards that in light of what ails France from economic weakness and high unemployment rate to historic levels.
It should be noted that the public debt amounted to 91% of GDP, which is the largest since the period after the Second World War, and the adoption of the government to raise more revenue from public spending cuts have thrown some of the criticism within the country and whether France - second largest economies of the euro zone - are still able to borrow from the market yield little like return on German bonds and levels of just below 2%.
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