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Summary France's parliament passes a revised 2012 govt budget to raise about 7 billion through new taxes.
The bill, passed early Friday by the National Assembly where President Francois Hollandes Socialists hold a wide majority, reverses many of the banner measures passed under the former conservative president, Nicolas Sarkozy.The measures would fill state coffers and aim to reduce Frances big debts with higher taxes on oil companies, banks and on estates.Hollande has criticized austerity measures imposed around Europe, but his government said that the conservatives exaggeratedly optimistic forecasts made a revision necessary.The bill raises the wealth tax for those claiming more than €1.3 million in revenue, and taxes oil stocks.It goes to the Senate on Tuesday.
