Sarkozy announces 26 billion euro plan to relaunch
Posted: Thu Feb 09, 2012 9:14 amSarkozy announces 26 billion euro plan to relaunch
« Thread Started on Dec 4, 2008, 7:30am »
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Sarkozy announces 26 billion euro plan to relaunch the French economy
Posted: 09:23 AM ET
Sarkozy announces 26 billion euro plan to relaunch the French economy
By Jim Bittermann
CNN
PARIS (CNN) — Declaring that the cost of not acting would be far more
than the cost of his action, French President Nicolas Sarkozy said Thursday he
would commit 26 billion euros — more than $32 billion — to relaunch the
French economy.
“Our response to the crisis, it is investment,” said Sarkozy.
Sarkozy said his much anticipated stimulus plan was meant to put the
economy back on track but also to allow France to catch up on 30 years of
reduced competitiveness and neglected infrastructure improvements.
Probably the most direct and immediate impact of his far-reaching plan
will be felt in the car and construction industries which account for 10 per
cent of the French work force.
One part of the plan, which was announced next door to an ailing Renault
car factory in northern France, would give car buyers who trade in ten year old
vehicles for new ones a one thousand euro bonus. That, it is hoped, will go
some ways to reviving the automobile sector which is facing 25 per cent cut in
production.
To stimulate construction, Sarkozy announced plans to create 100-thousand
units of public housing in the next two years, and a two fold increase in the
number of zero interest loans available to new home buyers.
Also encouraging the building trades are his ideas to accelerate
infrastructure projects like plans for the expansion of the high speed rail
network, and new investments in the state run electrical system especially in
the are of renewable energy.
To further create jobs Sarkozy outlined plans for what he called much
needed public sector renovations in hospitals, prisons, schools and
universities. And to give a boost to small business there are a number of parts
of Sarkozy program to speed payments and or reduce charges and paperwork.
« Thread Started on Dec 4, 2008, 7:30am »
--------------------------------------------------------------------------------
Sarkozy announces 26 billion euro plan to relaunch the French economy
Posted: 09:23 AM ET
Sarkozy announces 26 billion euro plan to relaunch the French economy
By Jim Bittermann
CNN
PARIS (CNN) — Declaring that the cost of not acting would be far more
than the cost of his action, French President Nicolas Sarkozy said Thursday he
would commit 26 billion euros — more than $32 billion — to relaunch the
French economy.
“Our response to the crisis, it is investment,” said Sarkozy.
Sarkozy said his much anticipated stimulus plan was meant to put the
economy back on track but also to allow France to catch up on 30 years of
reduced competitiveness and neglected infrastructure improvements.
Probably the most direct and immediate impact of his far-reaching plan
will be felt in the car and construction industries which account for 10 per
cent of the French work force.
One part of the plan, which was announced next door to an ailing Renault
car factory in northern France, would give car buyers who trade in ten year old
vehicles for new ones a one thousand euro bonus. That, it is hoped, will go
some ways to reviving the automobile sector which is facing 25 per cent cut in
production.
To stimulate construction, Sarkozy announced plans to create 100-thousand
units of public housing in the next two years, and a two fold increase in the
number of zero interest loans available to new home buyers.
Also encouraging the building trades are his ideas to accelerate
infrastructure projects like plans for the expansion of the high speed rail
network, and new investments in the state run electrical system especially in
the are of renewable energy.
To further create jobs Sarkozy outlined plans for what he called much
needed public sector renovations in hospitals, prisons, schools and
universities. And to give a boost to small business there are a number of parts
of Sarkozy program to speed payments and or reduce charges and paperwork.