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French parliament to vote on Hollande's reform pact in April

0 Comment(s)Print E-mail Xinhua, March 11, 2014
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French lawmakers will next month vote on President Francois Hollande's "responsibility pact," the Socialists' new scheme to deliver on their pledge to bring down alarming joblessness, a local daily reported on Tuesday.

Citing sources close to the presidency office, the Elysee, the right-wing newspaper Le Figaro added the parliament would also discuss the government's move to cut spending further by 50 billion euros (about 69 billion U.S. dollars) between 2015 and 2017 to respect its financial commitment.

Under fire for falling to fix France's sickly economy and reverse a long-running rise in unemployment, Hollande proposed a new pact aimed at lowering labor costs by scrapping of family contributions worth 30 billion euros in a bid to encourage recruitment and bolster competitiveness.

With his reform pact, the president eyes to create 1.8 million new posts over the next five years.

At the end of January, the number of people out of work in France reached a record high last month to more than 3.316 million. (1 euro = 1.38 U.S. dollars) Endi

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