Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Home
Business
Business Home
Economy
Technology
Media
Small Business
Legal
Deals
Earnings
Social Pulse
Business Video
The Freeland File
Markets
Markets Home
U.S. Markets
European Markets
Asian Markets
Global Market Data
Indices
M&A
Stocks
Bonds
Currencies
Commodities
Futures
Funds
peHUB
World
World Home
U.S.
Brazil
China
Euro Zone
Japan
Mexico
Russia
India Insight
World Video
Reuters Investigates
Decoder
Politics
Politics Home
Election 2012
Campaign Polling
Tales from the Trail
Political Punchlines
Supreme Court
Politics Video
Tech
Technology Home
MediaFile
Science
Tech Video
Tech Tonic
Social Pulse
Opinion
Opinion Home
Chrystia Freeland
John Lloyd
Felix Salmon
Jack Shafer
David Rohde
Bernd Debusmann
Nader Mousavizadeh
Lucy P. Marcus
David Cay Johnston
Bethany McLean
Anatole Kaletsky
Edward Hadas
Hugo Dixon
Ian Bremmer
Lawrence Summers
Susan Glasser
The Great Debate
Steven Brill
Jack & Suzy Welch
Frederick Kempe
Christopher Papagianis
Mark Leonard
Breakingviews
Equities
Credit
Private Equity
M&A
Macro & Markets
Politics
Breakingviews Video
Money
Money Home
Tax Break
Lipper Awards 2012
Global Investing
MuniLand
Unstructured Finance
Linda Stern
Mark Miller
John Wasik
James Saft
Analyst Research
Alerts
Watchlist
Portfolio
Stock Screener
Fund Screener
Personal Finance Video
Money Clip
Investing 201
Life
Health
Sports
Arts
Faithworld
Business Traveler
Entertainment
Oddly Enough
Lifestyle Video
Pictures
Pictures Home
Reuters Photographers
Full Focus
Video
Reuters TV
Reuters News
Article
Comments (1)
Full Focus
Editor's choice
A selection of our best photos from the past 24 hours. See more
Images of May
Follow Reuters
Facebook
Twitter
RSS
YouTube
Read
Top court upholds healthcare law in Obama triumph
|
5:35pm EDT
Ann Curry gives tearful farewell to "Today" Show
11:02am EDT
Wall Street pares losses late, ends modestly lower
|
5:17pm EDT
U.S. stocks sag on healthcare ruling, euro dips
4:54pm EDT
Supreme Court strikes down military medal lying law
12:23pm EDT
Discussed
179
Supreme Court to deliver Obama healthcare law ruling
93
California tobacco tax hike narrowly defeated at polls
94
Sandusky lawyers may use NBC tape error in appeal
Watched
Court finds Kim Dotcom raid illegal
Wed, Jun 27 2012
Hong Kong's dirty habits
Wed, Jun 27 2012
EU leaders gather for family photo, but divisions remain over policy
2:19pm EDT
Pictures
Reuters Photojournalism
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption
Raging wildfires
Raging fires strike Colorado and Utah. Slideshow
Health in America
An essay of photos taken by Reuters photographers during assignments on health care. Slideshow
French government to cut staff, operating costs: PM
Tweet
Share this
Email
Print
Related News
French minimum wage rise turns sour for Hollande
3:40pm EDT
Analysis & Opinion
Essential reading: Camp vows Republicans will resist tax revenue increases, and more
Both sides losing austerity fight
Related Topics
World »
France »
PARIS |
Thu Jun 28, 2012 3:40pm EDT
PARIS (Reuters) - France's new Socialist government will cut staff at most ministries by 2.5 percent annually for the next three years as it seeks to reduce its budget deficit to meet European Union targets, the prime minister's office said on Thursday.
Prime Minister Jean-Marc Ayrault also wrote in a letter to the ministries that government operating costs - which exclude staffing but cover things like car fleets and office supplies - would drop by 7 percent on average in 2013 versus 2012.
Ayrault, however, did not provide a target figure for overall central government spending.
Ayrault is poised to submit an adjusted budget to his cabinet on July 4, with an expected 7.5 billion euros in tax hikes to counteract lower state revenues due to flagging growth, government sources have told Reuters.
Economic growth is falling short of a 0.7 percent estimate on which the previous conservative government had based its 2012 budget, making it crucial to curb spending while raising new revenues.
France's six-week-old government has vowed to steer clear of austerity measures, but still needs to plug a budget shortfall of 7-10 billion euros if it wishes to meet its deficit target of 4.5 percent of gross domestic product for 2012.
To comply with an EU-mandated deficit target of 3 percent in 2013 the government will likely need to find some 20-30 billion euros, depending on the level of economic growth.
Ayrault said the government's operating costs in 2014 and 2015 would each drop by 4 percent over 2013 and 2014, respectively.
Also on the chopping block, and included in the operating cost target, are special funds given to ministries that help pay for one-off contingencies, such as subsidies to farmers or employment incentives.
The health, education and interior ministries - which the Socialists have identified as priorities - will be excluded from the staff reductions.
But the Socialist government is still committed to a campaign pledge of creating 60,000 new teaching jobs over his five-year mandate, a move that is sharply criticized as impractical and expensive by the opposition.
Labor Minister Michel Sapin has said that, taking the new hirings into account, the overall level of government staffing will remain flat.
Immediately upon taking office, President Francois Hollande cut his own pay and that of his ministers by 30 percent, a symbolic move to show that France was committed to controlling government spending.
(Reporting By Elizabeth Pineau, writing by Nick Vinocur and Alexandria Sage; editing by Daniel Flynn, Ron Askew)
World
France
Tweet this
Link this
Share this
Digg this
Email
Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
mulholland wrote:
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Back to top
Reuters.com
Business
Markets
World
Politics
Technology
Opinion
Money
Pictures
Videos
Site Index
Legal
Bankruptcy Law
California Legal
New York Legal
Securities Law
Support & Contact
Support
Corrections
Connect with Reuters
Twitter
Facebook
LinkedIn
RSS
Podcast
Newsletters
Mobile
About
Privacy Policy
Terms of Use
AdChoices
Copyright
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
Thomsonreuters.com
About Thomson Reuters
Investor Relations
Careers
Contact Us
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.