hit counter


My development logbook

France and Deregulation

Very obviously, the martial status and love life of Sarkozy is taking the limelight, and mainstream media basically treat this story as if it belongs to entertainment section.

Oh, well, that’s why mainstream media is mainstream, isn’t it?

So, when I learn about the reform Sarkozy has brought to France, I was a bit surprised. News like this basically escape me, a news junkie.

The following are some example:

  • Abolished the 35 work hours/week restriction. On top of this, a worker does not have to pay tax on the income resulted from his/her overtime. Employer is also only required to pay a lesser contribution to pension and health care levy for the overtime payment.

  • Simplify the tax laws: for some lower income family, a bill is passed so that a ceiling, 50%, is imposed on they have to pay to government. This does not include just income tax alone, but also covering various government fee and charge.

  • Bills passed to weaken Union power

  • Actively encourage the R&D via financial incentive

(It is reported by Bloomberg on the Economy Podcast – Interview with Philippe Farve, 21 Dec 07 )

It seems like it is going to be a Generational Change in France. In the all these hype of BRIC (Bazil, Russia, India and China), people probably is not aware that Europe actually has a balanced and increasing vibrant economy.

Next to do: get some quantitative data to verify the above view.