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Oh là là – A ‘Rich Tax’ for France

Seeing as the Nick Clegg Apology Song currently has over 1,700,000 hits on youtube you’d think the UK politician might want to stay burrowed somewhere quiet and dark for a while. But rather than waiting for the world to stop laughing (and to be honest that could take a while) he’s been in the public eye once again. In the last few days the leader of the Liberal Democrats has denied government plans to ‘soak the rich’ but defended proposals to bring in a mansion tax and end pension breaks for the country’s wealthier residents.

Whilst such proposals have provoked anger in some, the UK isn’t the only nation asking for more from its better-off citizens.

The Eurozone’s second largest economy has been struggling to keep afloat as nations sink around it, but France is determined not to fall.

At a press conference in Paris French Prime Minister Jean-Marc Ayrault announced that the country will maintain its 2013 budget deficit and growth targets by raising taxes on big companies and the wealthiest 10 per cent of the population.

Ayrault announced: ‘It’s true we’re asking for an effort of the richest, the top ten per cent and the top one per cent in particular. Big companies of the CAC 40 pay less than the small companies and sometimes don’t pay at all. So we’re asking them for an effort’.

After meeting with President Francois Hollande’s cabinet Ayrault also stated the 2013 budget plans for economic growth of 0.8 per cent and a deficit equivalent to 3 per cent of gross domestic product.


The Pound to Euro exchange rate is currently trading at 1.2525

The Pound to US Dollar exchange rate is currently trading at 1.6198

The Pound to Australian Dollar exchange rate is currently trading at 1.5524

The Euro to US Dollar exchange rate is currently trading at 1.2931

The Euro to Pound exchange rate is currently trading at 0.7982

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