Brussels, 22/01/2014 (Agence Europe) - The French president François Hollande, explained on Tuesday 21 January that he is planning to cut tax in France to bring the country into line with the biggest European economies by 2020. He said he would set a trajectory for changing taxation for both companies and households until 2017, with the aim of harmonisation with France's biggest European neighbours by 2020, adding that the first step might be taken in 2015 with a cut in compulsory deductions for companies alongside a reduction in taxation for households. The president hopes that greater economic growth and further savings will make it possible to gain room for manoeuvre in the budget that can be used to cut taxes rather than deficits in order to make French companies more competitive against their European rivals. Eurostat says that France has the highest company tax in the EU. Hollande said that if people want companies to invest and for France to become attractive, be it in terms of savers making long-term commitments or companies playing a full part in production and redistributing profits, then everyone needs to know the trajectory. Hollande gave an overview of his 'responsibility pact' to employers, which provides for a €30 billion reduction in employers' contributions. (FG/transl.fl)