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Government “plans €3bn in tax cuts”

Business daily Les Echos reports that François Hollande is planning to unveil tax break for households

THE GOVERNMENT is preparing to spend up to €3bn on a tax cut for households, according to business daily Les Echos.

President François Hollande “wants to show that he heard voters’ message” from last Sunday’s first round of municipal elections, the paper reported.

It said that, even though the government wants to cut €50bn of public spending, it is willing to offer a tax break in 2015 to lower-income households.

Government spokesperson Najat Belkacem-Vallaud said no decision had been taken, adding that a working group on taxation was due to report on its findings next week.

Bruno Le Roux, leader of PS deputies, however, told Le Monde on Thursday that new fiscal measures "would be announced in the coming days”.

According to the Élysée, improving economic prospects as the French economy returns to growth, as well as additional spending cuts have allowed more room for “manouevre” in the budget.

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