France: "France re-launch" A Huge Economic Recovery plan with an Eurpean Backored

France: "France re-launch" A Huge Economic Recovery plan with an Eurpean Backored "France re-launch" is a recover plan which includes a 100bn-euro (£89bn) economic stimulus package to help repair the economic damage caused by coronavirus. This plan is aimed at reversing rising unemployment, and includes tax cuts for business. Unveiling the plan, whose €100bn price tag is the equivalent of 4% of France's annual economic output, Prime Minister Jean Castex said it was almost four times bigger than the rescue strategy implemented after the financial crisis of 2008. Its goal is to move away from the emergency funding of the coronavirus crisis and to make long-term investments in employment and training, as well as in France's transformation to a green economy. this plan came as the economy shrank by 13.8% between April and June, the biggest quarterly fall since the Second World War. About €40bn of the funding will come from the new European Union recovery fund. About €35bn has been earmarked for projects to make the economy more competitive, and €30bn will be used on greener energy policies. About €6bn is slated for making public buildings and homes better insulated. The hydrogen industry, a sector which is receiving huge investment in Germany, will get €2bn. The rest of the investment package will go on supporting jobs, training and broader social initiatives with the aim of creating at least 160,000 jobs next year.   You might also be interested in:

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