(NEWS, COMMENT AND ANALYSIS WITH MAINSTREAM MEDIA SOURCES)
THE CREDIT RATING OF FRANCE DOWNGRADED FRIDAY NIGHT.
FITCH RATINGS SERVICE GIVING FRANCE A NEGATIVE OUTLOOK FOLLOWING THE NEW BUDGET ROLLOUT ON THURSDAY.
FITCH SEES BIGGER DEFICITS AND A MINORITY GOVERNMENT UNABLE TO DEAL DECISIVELY WITH EXCESSIVE SPENDING...
Reuters-"Fitch puts negative outlook on France's rating"
As expected on Tuesday the censure motion for Prime Minister Michel Barnier's government failed.
The motion from the New Popular Front Left got only 197 votes from 577 members.
Abstaining from the vote the National Rally (RN). Leader of the RN Marine Le Pen deciding to 'give a chance' to the government.
The Left noting they were denied the ability to form a new government by President Emmanuel Macron in spite of winning the largest number of seats in the election several months ago...
"France's minority government survives no-confidence vote"-Associated Press-Irish Examiner
The government rolling out its budget plan and taxes for 2025.
When it comes to income taxes for 2024 to be paid next year "inflation adjustments" of two percent have been factored in for tax brackets except the highest rate of 45 percent.
By the way the latest calculation of the rate of inflation in France is 2.2 percent.
Income for the first 11,520 Euros (12,595.97 US Dollars) of income will not be taxed up from 11,294 Euros (12,348.86 US Dollars).
In addition the tax allowance for married people or people with children is increased from 6,674 Euros (7,297.35 US Dollars) to 6,807 Euros (7,442.77 US Dollars)...
BFM-TV-"Income Tax: The New 2025 Scale Will Be Indexed To Inflation (Translation Prompt)
The government led by Prime Minister Michel Barnier is taxing 'the wealthiest' in its budget that includes projected savings of billions of Euros.
65,000 households targeted to pay more taxes those with a single taxpayer making more than 250,000 Euros or a married couple with 500,000 Euros or more of income.
Additionally, businesses whose turnover exceeds one billion Euros some 400 in all will pay additional taxes of eight billion Euros next year and 12 billion in 2026.
The spending plan called an "austerity budget"...
BFM-TV-"Taxes, Pensions, New Taxes...What To Remember From The 2025 Budget" (Translation Prompt)
THE TENSIONS OVER THE HIGH COST OF LIVING EXPLODING INTO A NEW ROUND OF DEADLY PROTESTS IN FRANCE'S CARRIBEAN TERRITORY OF MARTINIQUE THIS WEEK.
AT LEAST THREE DEATHS LINKED TO THE DEMONSTRATIONS.
HUNDREDS OF CARS BURNED.
STORES VANDALIZED AND LOOTED THE AIRPORT ON THE ISLAND STORMED BY PROTESTERS THURSDAY WITH A RUMOR THAT MORE POLICE WERE BEING FLOWN IN FROM THE MAINLAND OF FRANCE.
PROTEST DEMONSTRATIONS ORGANIZED UNDER THE UMBRELLA OF A GROUP CALLED THE 'RALLY FOR THE PROTECTION OF AFRO-CARRIBEAN PEOPLES AND RESOURCES' (RPPRAC)...BFM-TV NEWS STORY (TRANSLATION PROMPT)
Protest in Paris on Saturday afternoon...
LIVE VIDEO STREAM PARIS YELLOW VESTS WEEK 308 10/12/2024
A group in the dozens gathered for today's protest. They posed together for a bit then went through the streets accompanied by drums.
One large yellow sign held by a protester read:
"Macron Destitution"
MEANWHILE IN ROUEN YELLOW VESTS ACTIVIST JEROME RODRIGUES SPEAKING TO A GROUP RECALLING THE YELLOW VESTS PROTESTS SOME SIX YEARS AFTER THEY BROKE OUT ACROSS FRANCE...
A video from Lille in northern France remembering 309 weeks of protest and promoting a demonstration next month in Brussels (November 16)...
For now that's news of France and the Yellow Vests.
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