French Government Aims to Slash Deficit with New Budget Plan
France's government, led by Prime Minister Sebastien Lecornu, is set to unveil a budget plan aiming to reduce the deficit to 4.7% by the end of next year. Plans include cost reductions worth 31 billion euros through spending cuts and increased revenue, with tax measures targeting holding companies and limited pension adjustments.
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The French government under Prime Minister Sebastien Lecornu is preparing to roll out a plan focused on slashing the nation's deficit to 4.7% by the close of the next fiscal year. Details of this ambitious blueprint are expected to be published by the financial newspaper La Tribune on Tuesday.
To achieve this, the government aims to cut costs by 31 billion euros through a blend of stringent spending reductions and heightened revenue streams. The proposed budget reflects the administration's dedication to economic reform and stability.
Notably, the proposed budget includes a tax measure directed at holding companies frequently used by the affluent, and controversially, will refrain from adjusting pensions and social benefits in tandem with inflation, aiming to curb fiscal expansion.
(With inputs from agencies.)
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