
France is finally opting for austerity
After the binge, the bill? The new French government of Michel Barnier presented the main lines of its proposed 2025 budget on Thursday evening, promising to cut public spending by £50 billion while raising taxes across the board. It’s belated austerity for a state with a fiscal policy that has previously resembled dine and dash. The intention is to reduce the deficit to 5 per cent of GDP next year, before trying to go below 3 per cent in 2029. Meanwhile, France’s debt of 3.3 trillion Euros will increase. This is a punishment beating for the most successful and productive companies and individuals in France Like one of those
