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Europe Daily Bulletin No. 9673

3 June 2008
GENERAL NEWS / (eu) eu/taxation
Christine Lagarde proposes that surplus on VAT on oil products be used to stimulate purchasing power

Brussels, 02/06/2008 (Agence Europe) - Christine Lagarde, the French Finance Minister, has stated that "short-term action" was needed to offset the impact of the increase in oil prices on purchasing power in the poorest households (our translation throughout). "France, for example, is looking at using the surplus on fiscal revenue related to the increase in petroleum prices, as noted over and above the budget voted on by the (national) parliament, to support those who are the hardest hit by...

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