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France businesses to socialist Francois Hollande: Leave us alone

- The Washington Times - Monday, July 8, 2013

Businesses in France have had enough of President Francois Hollande and his socialist government, sending the leader this past weekend a blunt message: Leave us alone.

The government is over-taxing and issuing unclear economic policies, business heads say, Bloomberg reported. They demanded Mr. Hollande adopt a more consistent approach to regulation and to look within the ranks of his own government to cut costs — rather than constantly turning to business to raise revenues via taxation.

"In France, the real problem is the state," said Christophe de Margerie, chief executive of the nation's third biggest oil company, Total SA, in Bloomberg. "The state must obviously reduce public spending and put business back at the heart of the preoccupation of the French. It should mind its own business rather than tell us what to do."

Mr. Hollande is in his second year as president. France, meanwhile, is in its third year of economic slump. French businesses have seen their tax burden grow to the tune of $90 billion over the past three years.

Mr. Hollande has just 11 months before he faces re-election — and by business's accounts, his chances aren't looking too good.

"The state has become too large," said Augustin de Romanet, CEO of Aeroports de Paris, in Bloomberg.

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