LA COUR DES COMPTES 3

DEFICIT TARGETS AND TAX INCREASES IN FRANCE.

THE COUR DES COMPTES, THE FRENCH NATIONAL AUDITOR, FOUND THAT AN EXTRA 6 BILLION EUROS-10 BILLION EUROS OF SAVINGS WOULD BE NEEDED TO MEET DEFICIT TARGETS.

THE NEW GOVERNMENT INDICATED THAT  THESE DEFICIT TARGETS WOULD BE MOSTLY MET THROUGH TAX INCREASES ON COMPANIES AND ON THE RICH.

ALSO, AS YOU WILL REMEMBER, THE FRENCH PRESIDENT’S SOCIALIST PARTY TOOK 314 PARLIAMENTARY SEATS, WELL ABOVE THE 289 IT NEEDED TO SECURE A GOVERNMENT MAJORITY BY ITSELF.

THE SOCIALISTS NOW CONTROL ALMOST ALL OF THE FRANCE’S POLITICAL INSTITUTIONS : THE PRESIDENCY, THE NATIONAL ASSEMBLY, THE SENATE, ALL BUT ONE OF THE 22 REGIONS AND MOST LOCAL GOVERNMENT.

PHLDUCX