Macron government cuts taxes for wealthy in first budget

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Ministers insist 2018 budget will benefit both rich and poor after criticism from left-wing critics over slashing of a tax on financial investments.

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French president Emmanuel Macron's business-friendly government unveiled its first annual budget Wednesday, fending off criticism that its tax cuts favour the very wealthiest, reports The Economic Times.

Ministers insisted the 2018 budget would benefit both rich and poor after criticism from left-wing opponents about the slashing of a tax on financial investments which raised 3.5 billion euros ($4 billion) last year.

Left-leaning newspaper Libération ran the front-page headline "Hero to the rich"  ..