France to pay € 8.4 billion for company energy bills


The country plans special tax cuts on electricity for 2022 and 2023 

The French government has announced a package of 8.4 billion which is aimed to help companies pay their bills. According to a report by Euronews on Saturday, November 19, the country will reserve this amount in a bit to create a cushion during rising energy and gas prices across the European Union.  

“French companies will be protected as well as German companies are”, said Bruno Le Maire, Finance Minister of France, the report said. He also added “We will also make sure that EU competition rules apply to all companies, whether they are Italian, Spanish, French or German”.  

The report also said, this initiative by the French government to cut a special tax on electricity, will be the minimum allowed under the EU law. Through this, companies in France will received cheap nuclear derived energy. The French government had already set aside over € billion in order to give financial assistance to households also, the report said.

Aside from this, small businesses will also benefit from this tax cut, the report adds. This package is for the period of 2022 and 2023.

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