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French National Assembly Approves 2015 Budget Draft

18.11.2014 22:02

The parliament will hold a final vote on the budget on Dec. 20 after the Senate examines the text this Thursday.

The French National Assembly passed Tuesday the country's 2015 budget in a session that witnessed a conspicuous absence of 37 members from the ruling Socialist party's so called rebel camp.



French lawmakers of the lower house of parliament adopted the draft law on its first reading. Out of 577 lawmakers, 266 voted in favor of the draft, while 247 were against it.



There were 37 absent votes belonging to the so called rebels camp of the ruling Socialist Party. This group included three former ministers.



The rebel camp disapproves with the French government's public spending cuts and tax breaks for companies in efforts to try and emerge from a deep economic crisis.



The parliament will hold the final vote on the budget by Dec. 20 after the Senate examines the text this Thursday.



The European Commission had approved France's 2015 draft budget on Oct.10. 



One of the key features of the budget is the removal of the first portion of the income tax. It also contains increases in indirect taxes and diesel price hike by 2 cents per liter.



The French parliament is made up of two chambers, the National Assembly, which has the final say in drafting legislation, and the Senate.



www.aa.com.tr/en - Ile-de-France



 
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