Hollande's budget today looks for 20 billion in extra taxes on the better off, and 10 billion in cuts, mainly from a jobs freeze.
We are constantly being told that there is no alternative to the regressive "hit the poor to save the rich" approach of the Troika-style budgets. It will be interesting to see how the French do.
Socialist President Francois Hollande unveiled higher levies on business and a 75-percent tax for the super-rich on Friday in a 2013 budget aimed at showing France has the fiscal rigor to remain at the core of the euro zone.
The package aims to recoup 30 billion euros ($39 billion) for the public purse with a goal of narrowing the deficit to 3.0 percent of national output next year from 4.5 percent this year - France's toughest single belt-tightening in 30 years.
But the budget dismayed business and pro-reform lobbyists by preferring tax hikes and a simple freeze of France's high public spending to attacking ministerial budgets as Spain did this week in its battle to avoid an international bailout.