Hollande to quicken tax-cutting offer implementation

Paris, Jan 22: French President Francois Hollande on Tuesday said his government will put on the ground his tax-cutting offer to companies during an economic conference in the spring.

 

"The agreement should be concluded with firms during a great social and economic conference in the spring," Xinhua quoted Hollande as saying while detailing the schedule of his "responsibility pact" to tackle unemployment.

He reiterated the government’s pledges to not increase tax on households and to cut public spending.

Last week, Hollande announced the end of tax on employers that subsidise families by 2017, which will contribute to the decrease of labour costs by 30 billion euros (about $40 billion).

During his New Year Greetings message to the country’s business leaders, Hollande called on companies to respect their commitment mainly over "the number of created jobs, primarily for youth… through the development of training and generations contracts".

He also asked companies to focus on improving "the quality of jobs through employee training, improving classification grids and reducing the precariousness of work."

With an unemployment rate expected at 11 percent in mid-2014, the ruling Socialists eyed creating 1.8 million new posts by implementing the "responsibility pact" over next five years.