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Hollande

President Hollande's First Budget was the Easy One

In an effort to raise over €7 billion, French President François Hollande and his Prime Minister Jean-Marc Ayrault announced in their Budget on Thursday 05 July 2012, measures that included an increase in the tax rate from 50 per cent to 75 per cent for all income over €1 million - about £790,000 at the current exchange rate. The act of a Communist state by American and British standards but not the crucifixion scale that was demanded by the country's hard-Left. The Left Front and the New A...