If this is centrism, I’m all for it

The Guardian reports:

The French prime minister has vowed to make a raft of public-spending cuts to stem France’s “intolerable” reliance on state borrowing, which he said had left the country dancing on a debt “volcano”.

In his opening speech to parliament on Tuesday, Edouard Philippe side-stepped the notion of one-size-fits-all austerity, instead insisting that the plan of the new centrist president, Emmanuel Macron, was to reduce public spending while launching a €50bn (£44bn) investment programme and cutting a range of taxes, including slashing corporate taxes to boost businesses.

Cut spending and cut taxes – there is hope for France.

“Businesses must want to set up and develop on our territory rather than elsewhere,” he added, announcing that corporate tax would be cut from 33% to 25% in the next five years.

As corporate tax rates around the world reduce, we will need to do the same.

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