ADVERTISEMENT

France eyes investment tax for jobs measure

Food

Normal 0 21 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Normál táblázat"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} French President Nicolas Sarkozy plans to impose a 1% tax on investment revenue to pay for a planned measure to help poor jobseekers back into employment, a newspaper reported on Wednesday.

The measure, which the newspaper said would raise close to €1.4 billion ($2.06 billion), is expected to come into force by the middle of 2009. The investment tax would affect rental property revenues as well as dividends, life insurance and other investment income and would come on top of existing levies to make up the bulk of the extra funding required.

Budget Minister Eric Woerth declined to provide details ahead of an expected announcement by Sarkozy on Thursday but broadly confirmed the report. “To be able to finance it completely obviously requires additional funding and the avenue indicated is clearly a serious one,” he told France Info radio.

The so-called RSA, or Active Solidarity Revenue, aims to help people who would risk losing money by going back to work that paid less than the unemployment benefits they received. The cost of the measure, which is expected to concern 3-4 million people, is estimated at around €8.5 billion, of which 7 billion has already been set aside. (Reuters)

ADVERTISEMENT

Consumer, business confidence reach 2-year high - GKI Analysis

Consumer, business confidence reach 2-year high - GKI

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.