Current Events > Let's see what Emmanuel Macron is up to today

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http://www.france24.com/en/20170712-macron-tax-cuts-benefit-frances-richest-study-finds

The richest 10 percent of France's households will likely benefit the most from tax cuts proposed by the new centrist government of French President Emmanuel Macron, a study showed Wednesday.

The new government has promised to cut levies on businesses and individuals by roughly 11 billion euros ($12.6 billion) next year as part of a reform of taxes on the highest earners that is intended to spur investment and hiring.

The details of the changes are still being worked out by Prime Minister Edouard Philippe, who is struggling to deliver both tax cuts and reductions to public spending while respecting EU rules on budget deficits.

The respected French Economic Observatory at Sciences Po university in Paris issued a first assessment of the impact of the proposed tax cuts on Wednesday, saying that the top 10 percent of households would see 46 percent of the benefits.

The think-tank warned that "financing them by cutting public spending would significantly deepen the inequality produced by these measures."

Government spokesman Christophe Castaner admitted Wednesday that finalising the budget in 2018 would be even more difficult than this year when savings have been achieved by cutting foreign aid and transport infrastructure spending.

"This year was difficult, next year it will be even more so because we will add on the massive cuts in taxes paid by the French people and companies," he said.

French Prime Minister Edouard Philippe said in an address to parliament last week that France "cannot remain both the champion of public spending and the champion of taxation."

https://www.ft.com/content/648a5b04-6559-11e7-9a66-93fb352ba1fe

Edouard Philippe owes his job to President Emmanuel Macron. But France’s prime minister of two months makes no claims that his boss’s reformist presidential agenda is any radically new ideology.

Rather, in his first foreign media interview, Mr Philippe shows loyalty to his former party by suggesting that “Macronism” is the direct legacy of Alain Juppé, the unsuccessful centre-right presidential hopeful and Mr Philippe’s mentor in politics.

When it is suggested that the government’s plans for a more flexible labour market, tax cuts for businesses and emphasis on public spending curbs were all rightwing measures, Mr Philippe bursts into laughter. “Yes, what did you expect?” he says.

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yeah, fundamentally the choice between macron and lepen was basically 'center right vs extreme right'
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Darkman124 posted...

yeah, fundamentally the choice between macron and lepen was basically 'center right vs extreme right'

Le Pen was to the left of Macron on economics so it was basically moderate asshole vs. moderate asshole.

Sojy posted...

Le Pen was to the left of Macron on economics so it was basically moderate a****** vs. moderate a******.

somewhat to the left of him on economics, but her principal issues were protectionism. her plan to quit the euro and convert debt to the new franc would likely have been a default in effect

protectionism in the modern era is pretty extreme
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Interesting. Not really the direction I would like to see France go in, but definitely better than the alternative.
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