Economics
France Says No Tax Hikes as Nations Weigh How to Pay Virus Bill
- Le Maire says no tax hikes on households to cover virus bill
- Government cuts its 2020 GDP forecast to -11% from -8%
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In a rush to reinvent economic and fiscal policy for the post-pandemic world, France is vowing to not repeat history: no tax increases this time, Finance Minister Bruno Le Maire says.
With European economies reopening from over two months of shutdowns, governments are grappling with the challenge of accelerating a shaky recovery while drawing plans to pay the bill for the trillions they’re spending to protect jobs and companies.