Many told me that French president Francois Hollande was making idle campaign pledges on tax hikes and worker rules, and the he would not follow through. Well he did, at least on taxes.
The Financial Times reports Wealthy hit hardest as France raises taxes
France’s socialist government announced a big one-off increase in wealth taxes on Wednesday, by far the biggest single element in a €7.2bn package of new levies aimed at meeting this year’s budget deficit target that also included surcharges on banks and energy companies.
The supplementary 2012 budget, required to ensure the government hits its deficit target...