Hollande faces questions on tax pledge

Article reported that President François Hollande’s socialist government was facing mounting questions in early September 2012 over whether it was preparing to back down on or adjust the details of its controversial 75% marginal tax rate for the rich proposed during the Presidential election campaign in March 2013.

A decision on the details was due in time for the 2013 budget to be announced later in September 2012.

Separately, President Hollande unveiled a two-year economic recovery plan on the 9 September 2012 that includes strict budget targets to combat 'falling competitiveness and serious deficits' amid rising unemployment and sliding popularity ratings.

France's economy was set to contract by 0.1% in the third quarter of 2012, the central bank confirmed on the 10 September 2012, in a forecast of further trouble for France, the eurozone's second-biggest economy.

ESO: Background information: Hollande proposes 75% top tax rate http://www.europeansources.info/record/hollande-proposes-75-top-tax-rate-hollande-takes-campaign-to-london/

BBC News, 9.9.12: France's Hollande vows economic recovery in two years http://www.bbc.co.uk/news/world-europe-19538069

France24, 9.9.12: Hollande unveils two-year economic recovery plan http://www.france24.com/en/20120909-hollande-interview-new-taxes-budget-cuts-tv-tf1-economy-france-austerity

The Local.fr, 10.9.12: French economy set to shrink: bank http://www.thelocal.fr/page/view/french-economy-set-to-shrink-bank

The Local.fr, 7.9.12: Hollande’s tax on rich to be softened: report http://www.thelocal.fr/page/view/hollandes-tax-on-rich-to-be-softened-report-says

EUObserver, 10.9.12: Hollande: '€30 billion must be found' http://euobserver.com/economic/117484

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