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France’s government has proposed tax rises and spending cuts as it seeks to reduce its budget deficit and manage a growing debt burden.
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Prime Minister Sébastien Lecornu presented the proposal to parliament on Thursday. It includes higher VAT and income tax, more tax on pensions, and limits or freezes on some benefits, including child benefit. The government hopes to save €43 billion and limit the 2027 budget deficit to 5% of GDP. The measures remain proposals, not approved changes. [1]
Lecornu, who had introduced earlier measures, has also put his overall savings ambition at €54 billion. He has warned that the cost of financing France’s debt is rising. [1]
French state debt stands at around €3.6 trillion, Nieuws.nl’s ANP/AFP report says. It says the debt could reach 121.7% of GDP in 2027. [1]
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