To Aid Their Finally, Barely Positive Economic Growth, France Decides To… Raise Taxes. Again.



Which doesnt quite help to adequately explain what the thought process was here. Via the WSJ : The French government unveiled a 2014 budget Wednesday that continues to rely on higher taxes, threatening to further dent household spending power and economic growth, as well as President Francois Hollandes record low popularity. Faced with growing discontent over high taxation, Mr. Hollandes government emphasized efforts in the budget to improve Frances public finances by curbing spending. But net new taxes are still set to increase by 3 billion, with households shouldering the greatest burden, including an increase in the sales tax. The measures add to a tax burden that is already among the highest in Europe and are likely to weigh on the modest recovery in France, the eurozones second-largest economy, where households account for the largest component of gross domestic product. French companies and households have been hit hard by a steady increase in taxation since Mr. Hollande was elected 16 months ago. He introduced more than 7 billion ($9.3 billion) of fresh taxes after coming to power and another 20 billion in the 2013 budget, in a bid to restore Frances public finances and rein in its budget deficit. Oddly enough, businesses dont seem too thrilled this new-and-improved addition to the countrys already historically high tax burden, via the Financial Times : A senior lobbyist for a group of Frances biggest companies said the tax, in effect imposed on earnings before interest, tax, depreciation and amortisation, would especially hit manufacturers. For many companies it would cancel a large chunk of a 20bn tax credit being introduced by the government to lower Frances high labour costs.

In a prepared statement, the Venezuelan Attorney General’s Office said 17 people have been arrested in the drug trafficking case. The flight originated at Simon Bolivar International Airport in Caracas, the Venezuelan capital. An Air France executive in Venezuela, six airline employees, a security guard and a loading platform supervisor are among those arrested. Eight members of the Venezuelan national guard are also in custody and were scheduled to appear in front of a judge Wednesday afternoon for a preliminary hearing. On September 11, French authorities discovered 1.3 tons of pure cocaine stuffed inside 30 suitcases on the flight. The colorful bags did not match any of the passengers on board, CNN affiliate BFMTV reported. Coast Guard makes $20 million cocaine bust Huge drug bust off the coast of Florida Drug busts at sea: 4 tons of cocaine The street value of the stash is about 200 million euros, or $270 million. Woman busted in Spain for cocaine in breast implants Authorities worked with Spanish, British and Dutch police on the investigation, BFMTV said. This case “illustrates the importance of strengthening International cooperation in the fight against traffickers,” French Interior Minister Manuel Valls said. Suspected drug smugglers sail to jail In Venezuela, authorities promised a swift investigation as soon as the confiscation was announced in Paris. All 17 arrests were made in less than three days. Venezuelan Interior and Justice Minister Miguel Rodriguez Torres told reporters in Venezuela that authorities think an organized crime group with Italian and British members is responsible for the shipment. “The suitcases were not taken into the plane through the regular baggage platforms at the airport.

Arrests made in Air France flight cocaine case

President Aguerre continued, A very special thanks to all of the athletes, the whole town of Huanchaco, the public and private sector of Peru, and especially, the Peruvian Institute of Sport, the Association of Olympic Athletes of Peru, the Peruvian National Olympic Committee, the municipality of Huanchaco, and our dear event organizer of this first World Championship, Karin Sierralta. Huanchacos great surf during the Final Day of competition continued. The waves were in the 3-5 feet range, bigger than previous days, with calm winds all day long, providing exceptionally long rides for the surfers to perform at their highest level. The first final in the water was the Juniors Under-18, where Hawaiis Honolua Blomfield won the Gold Medal earning 15.00. As one of only two girls entered in the Junior competition, Blomfield had a difficult task, but managed to dominate most of her heats throughout the event, including the final. I just feel on top of the world! I cant believe that I was able to make it this far, said the elated Hawaiian. On my first wave, a set wave, I just played safe and did a couple of turns and some nose riding and ended up getting a seven. I was just amped throughout the whole heat. Then another really long wave came through, a little nugget that peeled all the way to the inside and I ended up getting another seven on that one. These two rides added up to a winning performance. The Silver Medal went to Frances Martin Coret (13.24), the Bronze to Brazils Caio Santana (10.56) and the Copper to South Africas Ethan Pentz (7.27). Up next was the Open Womens Final. South Africas Simone Robb won the Gold Medal, earning 11.50, defeating Silver Medalist Rachael Tilly (10.43) from USA, Bronze Medalist Justine Dupont (9.83) from France, and the Copper Medalist Megan Godinez (7.27) from Hawaii. I started up with a bang! I got the first wave of the heat, which was an 8, and I was really lucky to get that one, commented the South African in her post-heat interview.