France eyes new carbon tax in 2012 budget

The French government unveiled its austerity budget for 2012 on the 28 September 2011, with a particular focus on deficit reduction. France faces pressure to reduce its deficit and enormous public debt in the face of stagnant growth

The French government will increase taxes on the rich as part of the tough 2012 budget intended to convince nervous financial markets of its determination to bring public finances under control.

President Nicolas Sarkozy told his cabinet on the 28 september 2011 that the target of reducing the budget deficit to 3% of gross domestic product in 2013 was 'untouchable' and would be met 'to the last euro'.

• Primary Source

ESO: Background information: French taxmen turn from Mickey Mouse to George V http://www.europeansources.info/record/french-taxmen-turn-from-mickey-mouse-to-george-v/

France24, 28.9.11: France targets deficit with 2012 austerity budget http://www.france24.com/en/20110928-france-valerie-pecresse-budget-austerity-debt-paris-sarkozy-economy-euro-zone

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