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New French PM Valls vows to cut labour costs, ease taxes

Published on Apr 8, 2014 10:45 PM
 
France's newly appointed Prime Minister Manuel Valls addresses members of the Parliament during his domestic policy speech, on April 8, 2014 at the French national assembly in Paris. France's new Prime Minister on Tuesday vowed to slash labour costs by 30 billion euros (S$52 billion) and ease taxes in a bid to turn around the country's struggling economy. -- PHOTO: AFP

PARIS (AFP) - France's new prime minister on Tuesday vowed to slash labour costs by 30 billion euros (S$52 billion) and ease taxes in a bid to turn around the country's struggling economy.

Delivering his first policy speech to parliament since he took over as prime minister last week, Mr Manuel Valls said the measures were aimed at boosting competitiveness and increasing the spending power of consumers.

In a speech in which he vowed to "open a new chapter" for the Socialist government of President Francois Hollande, Mr Valls laid out a series of measures aimed at reviving the economy.

He said the 30 billion euros in reductions to employer payroll charges would be introduced by 2016.

 
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