October 01, 2024 at 02:24PM
Comments from Barnier:
Will reduce deficit to 3% in 2029
First remedy to bring down debt is to reduce spending
In 2025, two-thirds of effort will focus on cuts
Budget situation also requires targeted measures on tax policy
We will ask large companies and richest part of population to contribute to effort around finances
It’s going to be a mess in France and many parts of Europe. The public is in no mood for tax hikes or austerity but something has to be done about deficits.
This article was written by Adam Button at www.forexlive.com.
France’s Barnier: I plan to reduce deficit to 5% of GDP in 2025