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FRENCH BUDGET DETAILS
The first details of the French 2013 budget are out now!
Here are the early highlights.
Economic projections
• The Budget forecasts economic growth of 0.8% in 2013 and 2% every year between 2014 and 2017.
• The deficit is forecast to drop to 3% of GDP in 2013, and then to 2.2% in 2014, and 1.3% in 2015
• Public spending will remain stable at 56.3% of GDP in 2013
• The National Debt will rise to 91.3% of GDP in 2013
• The structural deficit will be eliminated by 2015
Tax and Spending changes
• New tax rises worth €10bn for "wealthy households"...and €10bn on big businesses
• €4bn will be raised by cutting corporate tax relief on interest payments
• €2bn will be raised from French households through a new tax on share dividends
• A marginal tax rate will be created, at 45%, tipped to raise €320m
• A new 'exceptional' 75% tax rate for highest incomes, tipped to raise €210m
• Lowering the threshold for France's wealth tax, tipped to raise €1bn
Updated at 11:51 BST"
From...
http://www.guardian.co.uk/business/2012/sep/28/eurozone-crisis-france-budget-spain-banks#block-50657792c0e3eab0be4929c8