France Keeps 2013 Budget, Growth Targets, Raises Taxes on Rich

France is maintaining its budget deficit and growth targets for 2013 by increasing taxes on the wealthiest 10 percent of the population and big companies, Prime Minister Jean-Marc Ayrault said at a press conference in Paris.

The 2013 budget plans for a deficit equivalent to 3 percent of gross domestic product and economic growth of 0.8 percent, Ayrault said following a meeting of President Francois Hollande’s cabinet.

“It’s true we’re asking for an effort of the richest, the top 10 percent and the top 1 percent in particular,” Ayrault said. “Big companies of the CAC 40 pay less than the small companies and sometimes don’t pay at all. So we’re asking them for an effort.”

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: Mark Deen at markdeen@bloomberg.net

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