French President Emmanuel Macron gestures during the press conference at the G20 leaders summit in Hamburg, Germany July 8, 2017. REUTERS/Philippe Wojazer
PARIS (Reuters) - France will press ahead with tax cuts promised by new President Emmanuel Macron, a finance ministry source said on Monday, despite warnings from the official state audit body about an 8 billion euro ($9.1 billion) hole in the budget.
Macron insisted at a meeting on Sunday that plans to rein in France's wealth tax and scrap local property taxes for 80 percent of those currently paying them begin to take effect in 2018, the ministry source said, confirming earlier French media reports.
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