Sarkozy to wreck French economy
French President Nicolas Sarkozy on Thursday unveiled a new carbon tax to help combat global warming [surely "climate change" - Ed], calling it a "fiscal revolution" and overriding strong public opposition to the plan.
The new levy on oil, gas and coal consumption by households and businesses will come into effect next year, making France the biggest economy yet to impose a straight-up carbon tax.
"It is time to create green taxation," Sarkozy said in an address in Culoz, a town near the French border with Switzerland.
"This is a major fiscal shift, an important innovation," he said. "It is the first step of a fiscal revolution that will be developed."
Sarkozy set the new carbon tax at 17 euros (25 US dollars) per tonne of carbon dioxide (CO2) and said it would be gradually increased to penalise only those who refuse to abandon their wasteful ways.
The president insisted the new tax was not a ploy to fill state coffers hit by a gaping deficit [we believe you - Ed], and the additional revenues will be put back into taxpayers' pockets through other tax cuts and "green cheques".
Read it here.