Socialists unseated a 10-year-old conservative majority in weekend parliamentary elections, and President Francois Hollande has mapped out an agenda for the new parliament to complete within the next six weeks. Highlights:
- End tax breaks and raise tax rates on profits by banks and oil companies, who bear the brunt of public anger over the financial crises that have hit Europe and the global economy in recent years.
- Lower taxes for small businesses, increasing them progressively as businesses grow in size.
- Tax the rich, with an income-tax hike to 75% those earning more than (EURO)1 million a year, and a 45% tax bracket for those making between (EURO)150,000 and (EURO)1 million a year.
- Hire new teachers toward a long-term target of 60,000 new jobs, with 1000 teachers by the time school starts in September.