French PM Attal Unveils Deficit Cuts and Labor Shake-Up, Mulls Tax on Wealthy
March 27, 2024
French Prime Minister Gabriel Attal outlined a plan to reduce the public deficit, targeting a cut below 3% by 2027.
The government proposes to slash public spending by 10 billion euros this year and 20 billion euros next year.
Attal introduced a new proposal for a four-day workweek and is asserting his independence from President Macron.
Tax reforms may include levies on superprofits and higher taxes on the wealthy and highly profitable companies.
Labor and unemployment insurance systems are set to undergo reforms, with a focus on promoting higher wages and reducing workplace accidents.
Trade unions are expressing concern over the government's potential shift in tax policy.
Summary based on 17 sources