Hollande Draws Heat From Business for Tax-Driven Pension Revamp
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President Francois Hollande is drawing fire from French business leaders after his latest effort to revamp the nation’s economy leaned on what many of them say was all too easy: higher taxes.
Hollande’s proposal to fix France’s pension system -- under which working lives will be extended to 43 years by 2035 from 41 years currently -- banks on up-front savings coming from raising contributions to the system over the next four years.