French tax cuts will 'not be at expense of deficit targets'

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Finance minister Michel Sapin said that promise by President Hollande to cut taxes in 2016 will be met through extra savings.

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French finance minister Michel Sapin said the French government can find €2 billion ($2.2 billion) worth of savings in 2016 to pay for tax cuts for households without sacrificing its commitment to reduce the budget deficit, reports The Wall Street Journal.