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France to unveil tax reform plan next month

01-18-2011 08:33 BJT

PARIS, Jan. 17 (Xinhua) -- French Budget Minister Francois Baroin said Monday the government plans to unveil its first choices on reforming tax policy at the end of February in a way to help the country to meet deficit target set at 6 percent in 2011.

"The year of 2011 will be characterized by the continued monitoring of the public spending .. and will be the year of the reform of tax heritage," Baroin said.

"We'll announce at the end of February ... we will wait another month to say which ones we will reserve to lead us to a reform which should be simple," he added while addressing the press in his New Year greeting message.

The minister noted that fiscal stability will be the result " of a simple idea of the solidarity tax on wealth .. on the tax shield .. and of this new tax on heritage."

The reform would put an end to the tax shield and to modify solidarity tax on wealth, a measure protecting especially people of high incomes without hitting further public finances, he said.

The draft reforms text is scheduled to be presented to the parliament in June, according to official agenda.

France is working to save 100 billion euros (132.93 billion U.S. dollars) over the next three years with the aim to cut budget deficit from an estimated 7.7 percent in 2010 to 6 percent in 2011 and 3 percent in 2013.

"We are going to keep our deficit target. In 2010 we expect 7. 7 percent of the national wealth from a projected 8.5 percent in the draft budget of 2009, a great improvement deserved to be hailed," Baroin said.

Editor:Yang Jie |Source: Xinhua

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