Showing posts with label budget deficit. Show all posts
Showing posts with label budget deficit. Show all posts

Monday, 27 October 2014

France in new pledge to cut budget deficit

France's finance minister says the country plans to cut its budget deficit by €3.6-3.7bn (£2.84bn, $4.6bn) next year in a bid to meet European Union rules.
The minister, Michel Sapin, made the promise in a letter to the European Commission.
The plan is an update on the country's original draft budget for 2015.
The Commission has until Wednesday to decide whether or not to accept the proposal.
Mr Sapin said he had found the money because of lower-than-expected costs on interest payments, as well as lower contributions to the EU's budget.
He said France had also gained income through higher tax income, which it pulled in by being tougher on fraud and ending some company tax allowances.