ECONOMY

Macron concessions to cost between 8-10 billion euros - minister

“It’s between 8 to billion euros,” Olivier Dussopt, junior minister for public accounts, said on BFM TV. (AFP)

Measures announced by President Emmanuel Macron to appease a wave of protests across France will cost between 8-10 billion euros ($9.1-$11.4 billion), a junior minister said on Monday.

“It’s between 8 to billion euros,” Olivier Dussopt, junior minister for public accounts, said on BFM TV. “We are in the process of fine-tuning and to see how to finance it.”

Macron announced earlier on Monday wage rises for the poorest workers and tax cuts for pensioners in further concessions meant to defuse weeks of often violent protests that have challenged his authority.

He announced a 100-euro ($113) per month increase in the minimum wage from next year in a major concession to “yellow vest” protesters who have roiled the country.

The minimum wage was set at 1,498 euros per month pre-tax in 2018 and 1,185 euros after tax.

Macron also rolled back most of an unpopular increase in taxes on pensioners which was introduced by his government.

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Last Update: Tuesday, 11 December 2018 KSA 07:27 - GMT 04:27
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