French President Macron plans tax cut to end yellow jacket movement

 (Photo by CHARLY TRIBALLEAU / AFP) (Photo credit should read CHARLY TRIBALLEAU/AFP/Getty Images)

President Emmanuel Macron held multiple town hall meetings in order to address the growing social unrest of the French people in the form of the Yellow Jacket Movement. They have been protesting Macron’s reforms and calling for him to resign.

After holding 10,000 meetings the French president came to a conclusion that the main reason for the ongoing protest was France’s very high tax rate which is rated to be the highest among developed countries, according to bbc.com.

The reduction in tax may come at the expense of social welfare, as France is also the one of the highest in social spending among developed countries – 46.2% of national output (GDP) from tax revenue and with social welfare spending of 31.2% of GDP in 2018.

 

Source: bbc.com

 

 

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