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Schubert, Christian

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3 articles of this author have been cited in the European Press Review so far.

Frankfurter Allgemeine Zeitung - Germany | 26/09/2013

Spending cuts instead of tax hikes

Instead of raising taxes France should put the brakes on spending, writes the conservative daily Frankfurter Allgemeine Zeitung, pointing out that the "tax orgies of the Socialist government and its conservative predecessor haven't even reduced the record 7.5 percent new debt level of 2009 by a half. Spending cuts are now supposed to account for four-fifths of the latest effort to reduce the budget deficit. If this turns out to be the case it would be commendable because no government since the post-war period has managed such a feat. But even that won't be enough. The remaining 20 percent in new tax increases will be poison for the tentative economic recovery. Further cutbacks to the bloated state apparatus would be less detrimental. Otherwise there won't be any real debt reduction. France's public debt will rise to more than 95 percent of its economic output next year. This is the payback for the fact that in the last 20 years only seven times have the French managed to fulfil the 3-percent deficit criterion."

Frankfurter Allgemeine Zeitung - Germany | 07/11/2012

Hollande's tax relief too timid

France's Prime Minister Jean-Marc Ayrault announced tax relief for businesses to the tune of 20 billion on Tuesday, in a bid to revive the economy. The conservative daily Frankfurter Allgemeine Zeitung finds the measure inadequate, and decries the lack of a clearly defined taxation policy: "Only in September [Hollande's] government decided to raise business tax by 10 billion euros. Before that it had repealed the cuts in social security payments and the rise in VAT pushed through by his predecessor Sarkozy. Now Hollande also wants to increase VAT - to compensate for the relief to companies. This zigzag course does have a long tradition in France, for example there have been 68 amendments to business tax in the last 35 years. Nevertheless the current policy is heading in the right direction, particularly because government spending should decrease by more than hitherto planned. ... In a word, this is not the shock therapy called for by former manager Louis Gallois, but a partial correction of certain mistakes."

Frankfurter Allgemeine Zeitung - Germany | 09/01/2012

Sarkozy doing symbolic politics again

The announcement by France that it may unilaterally introduce a financial transaction tax in January is clearly an election tactic, the conservative daily Frankfurter Allgemeine Zeitung concludes: "French President Nicolas Sarkozy ... is in a hurry to introduce the financial transaction tax because he has realised shortly before the presidential elections how little his grandiloquent speeches about taking action against banks and financial market speculations have been backed up by facts. Yet the introduction of such a tax - especially in just one country - would be economic nonsense. The French banks can easily transfer their trade to nearby London or Frankfurt. So if France does press ahead with the tax the rate would be so low that it would be barely noticeable for market players, turning the tax into an empty shell robbed of all purpose. Unfortunately we have become only too familiar with such ploys in the Sarkozy era. Politics is reduced to a game of symbolic gestures."

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