Summary
The French government will push ahead with tax cuts promised by President Emmanuel Macron, sources said Monday, rowing back on comments for the prime minister that some could wait.
During the meeting itself, Macron insisted that the plans to rein in France's wealth tax and scrap local property taxes for 80 percent of those who pay them should after all begin to take effect in 2018, the source said.
A delay was raised after the public audit office said a budget shortfall left by former President Francois Hollande's government would result in a deficit of 3.2 percent of national output this year compared with the Hollande government's forecast of 2.8 percent.
To meet the deficit target this year, the government is scrambling to come up with four million to five billion euros ($4.55 million to $5.69 million) in budget savings.
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