The French government on Thursday revealed a €100 billion boost bundle to launch its economy hit hard by the worldwide Coronavirus emergency.
Prime Minister Jean Castex claimed the revival plan had “historic ambition and scope”.
“In proportion to the national wealth, it is the most massive recovery plan announced to date among the major European countries,” he said.
He added that €100 billion was the amount needed “to regain our pre-crisis level of wealth by 2022” and that “the absolute priority is employment”.
Ecology, competitiveness and employment
The funds are to be divvied up along three major axes:
€30 billion for the move to a greener economy, with money earmarked to renovate buildings to be more energy-efficient, to boost investments in environmentally friendly industries and decarbonise the economy;
€35 billion to boost companies’ competitiveness through a €20 billion reduction in taxes on production and funds to help companies in strategic sectors scale-up and/or relocate;
€35 billion for social and territorial cohesion to boost youth employment and training.
Earlier in the day, Castex told RTL radio the government hoped the package will create 160,000 jobs in 2021.
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