“Reducing expenses means give up magic moneyto the illusion of everything being free, to the temptation to subsidize everything.” The Prime Minister spoke this Tuesday, October 1 for the first time before the National Assembly.
During his general policy declaration, Michel Barnier revealed his first tax increase measures. The objective: straighten out France’s public financesreduce the deficit to 5% in 2025 and aim for 3% in 2029.
According to the Prime Minister, “the situation of our accounts today requires an effort limited in time which must be sharedin a requirement for tax justice”. A “participation in collective recovery” will therefore be requested from “large companies which make significant profits”, explained Michel Barnier.
This “requirement of tax justice” will also lead to requests for an “exceptional contribution from the wealthiest French people” in order to “avoid tax exemption strategies for the largest taxpayers”. The Prime Minister insisted on his desire to fight against tax fraud and social fraud.
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