I was amused to read that the political left’s poster-boy, French President Francois Hollande, wants to CUT the public sector debt.
French President Francois Hollande’s government is due to present its first budget, and is expected to commit to a sharp reduction in the public deficit. The budget will include measures to plug a 30bn euro (£23.8bn; $38.7bn) hole in the country’s finances.
So far, so good, but then the lunacy…
Officials have suggested roughly two-thirds of the money will be come from tax rises rather than spending cuts.
Yip, INCREASE Taxes, and boost public sector salaries and pensions. That simply has to boost French productivity, right? Zut alors, I feel sorry for those French who didn’t vote for this lunatic Hollande! Mind you, most of them are headed to London, as estate agents in the wealthier parts of that foreign city will testify!