Paris unveils pre-election income tax cut of 1b euros

Paris

THE French government will cut income tax by one billion euros (S$1.53 billion) in its 2017 budget, the Finance Ministry said on Friday, seeking to ease the pain of earlier tax hikes ahead of a presidential election next year.

The move will take total income tax cuts since 2014 to six billion euros and benefit more than five million households with an average gain of nearly 200 euros, the ministry said in a statement.