France to cut 50 billion euros in spending in 2015-17 - Hollande


  • World
  • Wednesday, 15 Jan 2014

PARIS (Reuters) - French President Francois Hollande said on Tuesday he would cut public spending by 50 billion euros (41 billion pounds) in 2015-17 and ease the tax burden on companies by phasing out hefty family welfare payroll charges.

The pledges followed a New Year's address in which the Socialist president vowed to accelerate reforms geared at shrinking the public deficit, reviving growth and reducing record joblessness in Europe's number two economy.

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