France Slows Tax Cut for Companies as Finances Under Pressure
- Le Maire says firm choices are needed to meet budget targets
- Government expects ‘positive’ growth in 2023, Le Maire says
Bruno Le Maire
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French Finance Minister Bruno Le Maire said the government will cut a levy on industrial production at a slower pace than initially planned as it seeks to meet deficit reduction targets despite lower economic growth.
The tax, known as CVAE, will be reduced in two 4 billion-euro ($4 billion) increments in 2023 and 2024 instead of in one go next year, Le Maire said in an interview on LCI television on Monday.