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Violent Protests for Weeks Make Macron Agree with Wage Rise, Fuel Tax Relief

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Violent Protests for Weeks Make Macron Agree with Wage Rise, Fuel Tax Relief

Finally, French President Macron had to give in to the violent protests and agreed to roll back the fuel tax and agreed to a raise in the minimum wages. Over the last 4 weekends, the demonstrations took a violent turn as the protestors took to street protesting against the increase in fuel tax, rising living costs and more.

Mr. Macron said in a TV address that he understood the protestors’ sentiments and their demands were reasonable, however he condemned the violence. From 2019, the minimum wage would be raised to €100 monthly, he added.

Also, the planned increase in tax for pensioners in the low-income group would be rolled back and there would be no tax on overtime. The government would also encourage employers for a tax-free bonus at the year end.

However, the tax on the rich will not be reinstated Mr. Macron said as it would weaken the economy. He said that it was important that jobs were created.

The minimum wages are slated to increase by 7%, the increased cost will be borne by the government and not the employers. The government will be burdened by €8bn to €10bn it is understood.

Not until recently, Mr. Macron has deterred from making any statement. However, he finally agreed that people felt they were being ignored and wanted to improve their living conditions.

However, the proposal is not seen quite favorably by the protester and his opponents. One of the protesters said that they expected much more from the President.

Jean Luc Melenchon, leader of left-wing said more protests would ensue, while Eric Woerth, the right-wing political member said that these were just short-term solutions.

Marine Le Pen, a far-right leader stated that the President has set right some of his mistakes, but not all!

Joshua Carter
Joshua is among the statistical faces of Stats Report News. He owns a Masters in Business Administration and is usually found with a pen and a notepad jotting down the ups and downs of Share Market. He loves to constantly calculate the business projections and market statistics. Joshua can be called as an expert of business and share market and handles the business column of Stats Report News.

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