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French Industry Min to Ask Top Firms to Move Production Back Home- Report
Posted on: 23 Nov 2012  |   Tags: Arnaud Montebourg , French Companies , Migrate to France ,

France plans to ask its most successful companies to move their industrial production back home, said the country's Industry Minister Arnaud Montebourg, in an interview published Sunday in French weekly Le Journal du Dimmanche. Opulentus FranceMr. Montebourg said that such a request would be in return for 20 billion euros ($25.6 billion) worth of tax breaks over three years, announced last week by the French government in a bid to cut labor costs. The tax breaks, which will be partly financed by an increase in VAT rates, aim to improve the competitive edge of French industry and stem job losses as French unemployment continues to rise. In Sunday's interview, Mr. Montebourg, a strong critic of the way France has opened up its markets to free trade within the European Union, addressed leaders of companies and called for "economic patriotism." Source: http://www.nasdaq.com/article/french-industry-min-to-ask-top-firms-to-move-production-back-home--report-20121111-00008#.UK8ENBLiasw

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