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France: Gov’t vows ‘competitiveness pact’ to boost economy

By  |  November 6, 2012

In response to a government-commissioned report’s findings that the nation’s economy needs a “shock” to boost its strength, the French government has agreed to give €20 billion in tax breaks to businesses over three years. The government hopes the push will lower unemployment and increase competition, but experts say the plan is too little, too late. Prime Minister Jean-Marc Ayrault disagrees, saying that the plan – which includes a €500 million fund for struggling small businesses – will get France’s economy back on the global map.

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