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How emergency finance law can prevent France shutdown

^{Published on 2024-12-11 16:40:48 - businesslive.co.za}
 

• The temporary legislation, which parliament is due to vote on next week, is needed to avoid a US-style government shutdown at the start of the year after Prime Minister Michel Barnier's government collapsed last week, rendering its 2025 budget bill invalid.

The article from BusinessLIVE discusses how France's emergency finance law aims to prevent a government shutdown by addressing the country's budget deficit. The French government, facing a potential financial crisis, has introduced measures to curb spending and increase revenue. Key points include raising taxes on high earners, cutting public sector jobs, and reducing subsidies in various sectors. These steps are intended to stabilize the economy and avoid the drastic measures seen in other countries like the U.S., where government shutdowns have occurred due to budget impasses. The law also seeks to reassure financial markets and maintain France's credit rating, amidst concerns over the country's debt levels and economic recovery post-COVID-19.

Read the Full businesslive.co.za Article at:
[ https://www.businesslive.co.za/bd/world/europe/2024-12-11-how-emergency-finance-law-can-prevent-france-shutdown/ ]

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