François Hollande has launched a dramatic bid to revitalise Europe’s second-largest economy and rescue his faltering presidency by promising an unprecedented €30bn payroll tax cut for French companies.
At a keenly anticipated press conference at the Elysée Palace yesterday, Mr Hollande sidestepped questions on reports that he has been having an affair with a film actress, saying it was a private matter.
The president, under pressure to take bold steps to boost a weak recovery that is lagging behind much of the eurozone, said he would also seek to reduce corporate tax and tackle France’s notorious red tape and onerous labour regulations.
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