French President Jacques Chirac brought the nation’s political focus back towards the economy this week by announcing his desire to remove obstacles to job creation, including the elimination of the unpopular taxe professionelle.
A tax levied on the number of workers a firm employs, and mainly benefiting local government, the taxe professionelle is a deeply unpopular tax amongst France’s employers, and is thought to be a significant hindrance to business investment.
The measure is included in a series of proposals which aim to curtail the power of the unions to paralyse the nation’s transport network and overhaul public sector working conditions, including greater emphasis on recognizing individual performance. However, the President did not reveal details of how the measures, including the removal of the tax, will be financed given the nation’s substantial fiscal deficit.
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