World Economy

Macron to Overhaul Taxes

Macron to Overhaul TaxesMacron to Overhaul Taxes

French President Emmanuel Macron is making good on his campaign promise to improve the business environment in France. As part of this effort, his government released a budget at the end of September with substantial tax reforms, which reduces or eliminates several business taxes, Reuters reported. In addition, he has vowed to reform the unemployment insurance system by expanding it to the self-employed and farm workers as well as capping benefits and introducing training programs. These reforms have a hefty price tag, which Macron intends to pay for with cuts in spending to public programs. In addition, the new budget attempts to shrink the French deficit below 3% of GDP, which complies with EU deficit rules.


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