French Carbon Tax

France withdrew a carbon tax plan that was set to make France the first big economy to tax carbon emissions. Prime Minister Francois Fillon said it would give French industry too much of a disadvantage in competition. Fillon would be optimistic if such a plan was enacted on a European level.

The repeal is a result of tens of thousands of public sector workers striking against President Nicolas Sarkozy. Sarkozy’s UMP party was defeated in several regional elections. The strikes added insult to injury. Sarkozy intends to cut jobs and reform pensions for public employees. With his political loses, Sarkozy hopes getting rid of one controversial plan will help him accomplish another.

The defeat of the UMP leaves the Socialist-led left wing party controlling 21 of the regions in France and Corsica.

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Posted on March 23, 2010, in Global Biz, Newspaper & Journal Articles, Politics & The Economy, Taxes and tagged , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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