Foreign
THE income tax cuts announced by French President Emmanuel Macron should benefit some 15 million households, his economy minister said on Friday.
Macron promised income tax cuts worth about 5 billion Euros (5.6 billion dollars) on Thursday in his response to a national consultation process intended to defuse the Yellow Vests protest movement.
“The cuts should mainly benefit those paying the lowest 14 per cent income tax bracket,’’ Economy Minister Bruno Le Maire told LCI television.
His proposals appear to mean that in effect almost all those paying income tax would get a cut.
A total of 16.3 million households paid income tax in France in 2017, while the figures were made available in 2018, with the country’s remaining 15.6 million households exempt.
Budget Minister Gerard Darmanin meanwhile told RTL radio that the tax changes would take effect from January 2020.
Macron promised more money for pensioners, more access to public services in rural areas, and a possibility for citizens to initiate petitions.
The president also promised referendums on policy issues, a concession to the Yellow Vests’ demands for a broad power for citizens to launch referendums.
However, prominent figures in the largely leaderless Yellow Vests movement, which started in November in opposition to planned fuel tax rises that were later cancelled, have called for the now-weekly demonstrations to continue all the same.
According to government estimates, the protests have repeatedly degenerated into clashes with police in Paris and other major cities, even though the numbers taking part have sunk to a few tens of thousands weekly. (dpa/NAN)
– Apr. 26, 2019 @ 14:43 GMT |
Tags: French income tax cut to benefit 15 million households – Minister
