France’s Le Maire Moots Tax Cuts for Business as Election Looms

(Bloomberg) -- French Finance Minister Bruno Le Maire dangled the possibility of further tax cuts for industry, in a sign President Emmanuel Macron is preparing to again run on a pro-business platform in April’s elections. 

Addressing company executives in Paris, he said the state needs to look further at how to lessen a burden that disadvantages France’s manufacturing sector compared to European peers. 

The current government has already planned a 20 billion-euro ($22.7 billion) reduction in taxes over two years as part of its Covid recovery program, but some of Macron’s rivals are promising more if they are elected. 

Le Maire also said the state should examine how it could further cut levies paid by employers to encourage higher-skilled and better-paid jobs. 

“Our responsibility is to continue to offer you an economic, tax and financial environment that is as favorable to you as possible,” Le Maire said at the event for medium-sized businesses. “Believe me, there’s a lot of work to do and thank goodness, otherwise we’d get bored in the coming years.”  

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