Necessary and fair budget ahead – French PM

French Prime Minister Jean-Marc Ayrault has said that nine out of 10 citizens will not see their income taxes rise in the new budget.

He has confirmed that there is to be a new 75% tax rate for people earning more than 1m euros a year.

He has not yet detailed how much taxes will rise for the rest of the top 10%.

It is one of the key policies in what he called “a courageous, responsible budget – a budget of conquest”.

The government’s priorities were young people, training and cutting 10bn euros from its spending, he said.

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