France Unveils EU18.6 Billion Plan for 2012, 2013 to Save AAA
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France unveiled tax increases and spending cuts amounting to 18.6 billion euros ($25.6 billion) for next year and 2013 to defend its triple-A rating as growth slows and Europe’s debt crisis deepens.
The country will increase some levies on large companies, push up the lower end of its range of value-added taxes and curb welfare spending, Prime Minister Francois Fillon said today.