Bloomberg News

French Socialist Hollande Says Raising Value-Added Tax ‘Injust’

October 28, 2011

Oct. 28 (Bloomberg) -- Francois Hollande, the socialist candidate for France’s 2012 presidential elections, said it would be “particularly injust” to raise value added tax.

President Nicolas Sarkozy yesterday ruled out a “general” increase in France’s value added tax, leaving the door open to raising the rate on products and services that don’t currently take the full 19.6 percent rate.

Sarkozy’s economic growth assumption of 1 percent is “too optimistic,” Hollande also said today in an interview on France 2 television. “Over the coming years, measures to support growth and to prevent unemployment will be needed,” Hollande said, without giving further details.

Separately, Hollande said he is “deeply troubled” by the European Union’s aim to tap China for help for the region’s enlarged rescue fund.

rate such as food and restaurant meals.

To contact the editor responsible for this story: Fabio Benedetti-Valentini at fabiobv@bloomberg.net


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