France to Temporarily Cut Fuel Tax as Seeks Longer-Term Plan
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France will temporarily cut tax on oil products to lower fuel costs at the pumps as the government seeks a longer-term plan to curb prices after President Francois Hollande pledged a three-month freeze during elections in May.
“It will be a unilateral measure to lower the state’s share” of revenue, Prime Minister Jean-Marc Ayrault said. It “will lower the price of fuel, in particular the tax portion.” The cut will be “modest and temporary” while the government devises a new system to regulate prices, he told RMC radio.