France poised to unveil a budget heavy on taxes

PARIS (AP) ? France unveils its 2013 budget Friday, seen as a test of whether Socialist President Francois Hollande is serious about cutting government spending and reforming the country's economy.

Other countries in Europe are implementing harsh austerity, but France has largely held off on slashing its budget. Instead, it is expected to mostly to announce a slew of new taxes.

The measures are designed to reduce the government's deficit by ?30 billion ($39 billion), with only one-third of that in spending cuts.

Economists say raising taxes will only make it more important for Hollande to get serious about loosening the country's hidebound labor market.

Source: http://news.yahoo.com/france-poised-unveil-budget-heavy-taxes-050357772--finance.html

steelers vs broncos chris herren jay z patsy cline pierre thomas beyonce gives birth portlandia