Taxing their Patience

Tax policy is the most effective and visible weapon of any government in a liberal democracy (the army being the weapon of choice of less democratic regimes).  This week the fiscal tanks rolled in to the French economy, with President Hollande’s government unveiling its draft budget for 2013.

Whilst the budget contains no big surprises, two changes in particular have led to outcries and backpedaling by the government within the first few days of its publication.  Now the government is playing catch-up, looking accident-prone as well as punitive.  Is the pillorying of Finance Minister Pierre Moscovici, and the Prime Minister Jean-Marc Ayrault by the press fair? Continue reading