July 15, 2020 / 1:45 PM / a month ago

France to boost domestic production with tax breaks, PM says

PARIS, July 15 (Reuters) - France will cut domestic business taxes to weather a coronavirus crisis that has underscored its over-dependence on imports, new Prime Minister Jean Castex said on Wednesday.

“The crisis has confirmed that we must now transform our industry,” Castex said in his first appearance before lawmakers since his July 3 appointment at the head of President Emmanuel Macron’s reshuffled government.

A 100-billion-euro ($114 billion) economic recovery package to be announced on Friday will include 40 billion in support for domestic industry and services including tax breaks, he said.

$1 = 0.8737 euros Reporting by Laurence Frost and Leigh Thomas Editing by Mark Heinrich

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