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Valls under fire over France cuts programme, benefits freeze

France's new Prime Minister Manuel Valls came under fire Wednesday after unveiling a freeze in state benefits as part of a plan to cut state spending by 50 billion euros ($70 billion). The Socialist government has pledged to make the savings between 2015-2017 to finance a package of payroll and income tax cuts designed to bolster demand, make companies more competitive and attract investment. Known as the Responsibility Pact, the plan is the centrepiece of President Francois Hollande's strategy for reviving a flagging economy and cutting unemployment.

Valls under fire over France cuts programme, benefits freeze

France's new Prime Minister Manuel Valls came under fire Wednesday after unveiling a freeze in state benefits as part of a plan to cut state spending by 50 billion euros ($70 billion). The Socialist government has pledged to make the savings between 2015-17 to finance a package of payroll and income tax cuts designed to bolster demand, make companies more competitive and attract investment. Known as the Responsibility Pact, the plan is the centrepiece of President Francois Hollande strategy for reviving a flagging economy and cutting unemployment.

France freezes benefits in controversial cuts drive

France's new Prime Minister Manuel Valls on Wednesday unveiled a politically risky freeze in state benefits as part of a plan to cut government spending by 50 billion euros ($70 billion). The Socialist government has pledged to make the savings over the course of three years (2015-17) in order to fund a programme of tax cuts for individuals and companies aimed at reviving a flagging economy and reducing unemployment from record levels.

France's Valls wins parliament backing for tax and spend shake-up

By Leigh Thomas PARIS (Reuters) - New Prime Minister Manuel Valls won a vote of confidence in parliament on Tuesday after unveiling planned tax and public spending cuts, vowing to bring France's public deficit down while resisting outright austerity.

French PM vows 'new chapter' as he slashes labour costs, taxes

France's new prime minister vowed Tuesday to "open a new chapter" for the country by slashing labour costs and taxes to turn around the struggling economy, in a passionate maiden speech. Addressing parliament for the first time since he took over as premier last week following the ruling Socialists' dismal showing in local polls, Manuel Valls promised to bring back "confidence" with measures aimed at boosting growth and consumer spending power and creating sorely-needed jobs amid record unemployment.

French PM vows 'new chapter' as he slashes labour costs, taxes

France's new prime minister vowed Tuesday to "open a new chapter" for the country by slashing labour costs and taxes in a bid to turn around the struggling economy, in a passionate maiden speech. Addressing parliament for the first time since he took over as premier last week following the ruling Socialists' dismal showing in local polls, Manuel Valls said the measures were aimed at boosting growth, competitiveness and consumer spending power.

New French PM Valls vows to cut labour costs, taxes

France's new prime minister on Tuesday vowed to slash labour costs by 30 billion euros ($41 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, 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, Valls laid out a series of measures aimed at reviving the economy.

France's Valls announces tax and spending cuts

PARIS (Reuters) - Manuel Valls used his first speech to parliament as France's prime minister on Tuesday to announce corporation tax cuts and outline public spending savings, saying Paris would respect EU budget commitments while rejecting austerity. Confirming an expected package of 30 billion euros ($41.23 billion) in payroll tax cuts on companies by 2016, Valls said the so-called "C3S" tax on companies would be scrapped by the same date, handing a total six billion euros back to companies.

New French PM suffers setback as he prepares to unveil government

France's new Prime Minister Manuel Valls suffered his first setback as Green allies refused to take part in his government, due to be unveiled Wednesday. President Francois Hollande nominated the tough-talking interior minister to the post on Monday after the ruling Socialists suffered a drubbing at municipal polls. Valls replaces Jean-Marc Ayrault who had headed up a deeply unpopular government which struggled to create sorely-needed jobs and straighten out a battered economy.

New French PM suffers setback as he prepares to unveil government

France's new Prime Minister Manuel Valls suffered his first setback as Green allies refused to take part in his government, due to be unveiled Wednesday. President Francois Hollande nominated the tough-talking interior minister to the post on Monday after the ruling Socialists suffered a drubbing at municipal polls. The 51-year-old is due to unveil his new government at 0915 GMT, the presidency announced Wednesday.
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