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French president vows to lower taxes if growth is sufficient

PARIS – French President Francois Hollande has promised he will lower taxes next year provided the state has sufficient leeway.

The tax cut will apply on household incomes “if growth recovers,” Hollande told Europe 1 radio Tuesday. The decision will be taken during the summer, he said.

Hollande said France’s growth might reach 1.6 per cent in 2016, slightly better than last year.

France’s gross domestic product (GDP) grew by 1.3 per cent in 2015, the state statistics agency Insee announced Tuesday.

Hollande also said he will formally announce in December whether he will stand again in the 2017 presidential election.