France deals with an inconvenient truth after audit of public finances
After the electoral speeches now is the time for reality in France. The Cour des Comptes (France’s audit office) has published a report warning of the alarming state of France’s public finances. Prime Minister Jean-Marc Ayrault has urged the French to rally behind a ‘crushing’ debt burden after the state audit warned of a 43 billion euro budget hole. The country is at a crossroads. Socialist President Francois Hollande and his government are about to hit the wealthy and big business with tax increases, limit the salaries of top earners in state-controlled companies, while introducing minimal spending cuts as they try to juggle campaign pledges with bringing France’s budget deficit in line with EU guidelines.
- Report is targeted to the decision makers in cross country manufacturing – suppliers, manufacturers, logistics.
- Also considered useful for the administrative university facilities, to better understand the possibe effects of current decisions.