French PM Considers Taxing Large Corporations to Address Grave Debt Crisis

Sep 23, 2024, 08:47 AM

The French Prime Minister is considering implementing a tax on large corporations in an effort to tackle the country's high debt levels. This proposal is part of a broader strategy to address France's substantial national debt crisis. Bank of France Governor Francois Villeroy de Galhau has expressed support for the government's proposals to tax the wealthy and large companies, aiming to bring urgent relief to the nation's stretched public finances. The new French government is facing a deepening deficit and mounting debt, which has caused the gap between French and German benchmark yields to climb to the highest level since early August. The Prime Minister described the debt situation as 'grave'.