Macron's tax breaks to make wealthiest even richer while inequalities set to grow


Emmanuel Macron’s new government has announced the introduction of sweeping tax cuts in its 2018 budget which it insists will stimulate growth and reduce unemployment. But a recent study by the French Economic Observatory found that the tax breaks will above all benefit the wealthiest 1% of the French population, without any significant benefit to the economy. Romaric Godin reports.

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French Prime Minister Édouard Philippe this month set out his government’s 2018 budget measures, which centre on both reducing public spending while lowering taxes. The target is to reduce the public deficit next year to 2.7% of Gross Domestic Product, and to attain economic growth of 1.7%.