July 15, 2020 / 6:41 PM / 22 days ago

France to cut business taxes by 20 billion euros over two years

Bruno Le Maire, French Minister of the Economy, Finance, and Recovery, wearing a protective face mask, is seen before the speech of French Prime Minister Jean Castex to unveil the new government policy at the National Assembly in Paris, France, July 15, 2020. REUTERS/Gonzalo Fuentes

PARIS (Reuters) - The French government will cut taxes French companies have to pay in addition to normal corporate income tax by 20 billion euros over the next two years, Finance Minister Bruno Le Maire said on Wednesday.

“It will be a massive cut, twice 10 billion euros - 10 billion in 2021 and 10 billion euros in 2022,” Le Maire said on France 2 television.

“Producing in France will be cheaper, it’s as easy as that,” he added.

Reporting by Leigh Thomas and Bertrand Boucey; editing by Jonathan Oatis

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