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France’s Le Maire: Cutting Fuel Taxes Is Wrong Response

Oct. 18, 2021, 6:37 AM

French Finance Minister Bruno Le Maire says cutting taxes on gasoline and diesel would be the wrong response to higher prices.

  • Le Maire speaks on Europe 1 radio
  • Finance minister says he would favor a system of subsidies to protect poorer households from rising prices, similar to announced for heating costs
  • “I’m much more in favor of a fuel check than a tax cut”
  • Cutting tax on fuel by 1 euro cent would cost the state 500 million euro ($579 million)
  • Tax cuts also support consumption of fossil fuels, Le Maire says
  • Says higher energy prices can hurt economic growth ...

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