France to slash business tax by EUR 8 billion

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France will scrap business tax by 2010 to boost industry, announces Sarkozy.

PARIS – France will slash business tax by EUR 8 billion 2010 in a bid to stop firms going bust during the economic crisis, President Nicolas Sarkozy said Thursday.

"We will get rid of local taxes on business in 2010, I want us to keep factories in France," he said in a major television interview he gave to defend his handling of the crisis.

The interview came a week after more than a million strikers took to the streets in protest at his response to the downturn.

[AFP / Expatica]

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