Emmanuel Macron is deploying major tax cuts in his next budget to try to rev up the economy and lift his drooping approval scores — but the headwinds are getting stronger.
The pro-business French president on Monday unveiled tax cuts worth as much as €26 billion for workers and employers, in the most substantial one-time reduction France has seen in more than a decade.
The cuts, which mainly target employers, fit into a strategy of making work pay more in a country where labor costs are high and unemployment — currently stuck above 9 percent — is plaguing the presidency.
