PARIS (Reuters) – The state will raise the income tax scale to index it to the level of inflation in the 2024 budget, which will avoid increasing household taxes in the year next, Bruno Le Maire declared on Tuesday.
“No employee will pay more taxes, some will even pay less taxes because I confirm to you that we will index the income tax scale to inflation, that is to say 4.8 %”, explained the Minister of Economy and Finance on LCI.
“This means that everyone whose salary has increased in 2023 – the average increase is 5% – will not pay a euro more. Those whose salary has not increased will see (…) their tax decrease “, he added.
“That represents almost 6 billion euros of shortfall for the state budget,” said Bruno Le Maire.
The tax cut of 2 billion euros for the middle classes announced last May by Emmanuel Macron “will be done as soon as possible”, declared the Minister of Economy and Finance. “If it’s possible in 2025, we’ll do it in 2025.”
(Written by Jean-Stéphane Brosse, edited by Blandine Hénault)
Copyright © 2023 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.