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François Fillon

Francois Fillon:Government Has No Plans for Further Stimulus

François Fillon 18%

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French Prime Minister Francois Fillon says that the government has no further stimulus in the pipeline currently. The current spending package "has doubled the public deficit for this year," Fillon said on French television on Friday. Going beyond that "would be a mistake and would prevent any recovery." Fillon also says higher taxes are not the solution for the economy, echoing previous comments made by French President Nicolas Sarkozy earlier in the week. The French government is currently under pressure to increase the tax rate for the country's highest wage earners. The idea of increasing the tax burden on the wealthy is gaining momentum even within French President Sarkozy's government, where some members have proposed a levy on households that earn in excess of €300,000 in annual income in a show of solidarity with labour unions. However, speaking to workers at a French locomotive factory on Tuesday, Sarkozy remained opposed to the idea.  "I was not elected to increase taxes," Sarkozy had said in a speech. "My goal is to convince people who have money to come to France and invest in our factories and companies, not to. push them out."


(CEP News) Frankfurt

Fri Mar 20, 2009 05:04am



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