France says coming tax hikes on the wealthy to be 'temporary'

France’s finance minister promised on Wednesday that the tax hikes the government says are required to bring the country’s finances back on track will be targeted at high-income groups and limited in time.

A day after Prime Minister Michel Barnier pledged to tackle France’s “colossal” debt through spending cuts and new taxes, Antoine Armand told the RTL broadcaster that low- and middle-earners would be spared from the extra fiscal burden.

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