Fillon will go up against Le Pen and a yet-to-be selected Socialist opponent.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
On paper, French presidential favorite Francois Fillon's free-market plans to cut business taxes, relax labor laws and shrink the public sector should give corporate France a shot in the arm and boost economic growth.Fillon, an admirer of late British Prime Minister Margaret Thatcher, is the center-right candidate for the presidential election in May, when he will go up against far-right leader Marine Le Pen and a yet-to-be selected Socialist opponent.There are precedents in France, notably when conservative former President Nicolas Sarkozy, with Fillon as his prime minister, tried to cut payroll taxes in the final months of his term in 2011 .Fillon would turn that scheme into a permanent reduction in payroll charges, while going further than Sarkozy's plans by also cutting the corporate tax rate to 25 percent, from 33 percent currently.Fillon's plans to cut public spending to 49 percent of output by 2022 would still leave it well above the current OECD average of 45 percent.With spending cuts coming gradually after the tax cuts, Fillon accepts that the initial strain on the budget means he will have to tear up the current government's plans to cut the deficit to less than 3 percent of output next year.
FOLLOW THIS ARTICLE