France is “an exceptionally gifted student who sits loafing around at the back of the class, doing nothing.” That is the damning assessment of the country’s economy by Medef chief Pierre Gattaz. His gloomy comment came a week after the economic think tank OECD said in its annual report that France needs a massive drive to simplify everything from the labour code to taxes and business regulations. Gattaz said the labyrinthine rules and regulations governing business were the cause of the country’s stubbornly high unemployment, currently at nearly 3.5 million people, which he described as “the most serious injustice suffered by the French.”
Val says rules, regulations and over high taxation. I met a lady who had sold up here a couple of years ago to return back to the UK. Her working husband just could not afford the taxes here handing over half of what he earned to the government in taxes. She told me now he is back in the UK earning the same amount but his take home pay is quite different, meaning they can live decently and save a little. She felt France is OK for retired people but too difficult if you wanted to work. Comments to taglines82@gmail.com
