Hollande announces budget cuts, tax breaks

French President Francois Hollande on Tuesday (14 January) pledged to cut €50 billion in government spending over the next four years and give French firms tax breaks in order to jumpstart the eurozone's second-largest economy. In an almost three-hour long press conference, Hollande promised to slash €30 billion in tax obligations for French firms, by giving them an exemption from family welfare obligations.

http://euobserver.com/economic/122731