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Pension System, Not Immigration, Underlying France's Economic Challenges

share-iconWednesday, January 08 comment-icon2 weeks ago 7 views
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thelocalTHELOCAL
Pension System, Not Immigration, Underlying France's Economic Challenges

Credited from: THELOCAL

  • Pension Costs: France's budget deficit primarily stems from pension subsidies, exceeding €50 billion annually.
  • Sluggish Growth: High payroll taxes support pensions, hindering economic growth and job creation.
  • Generational Inequity: Older citizens benefit more from pensions than they contributed, leaving younger generations at a disadvantage.
  • Political Debate: The issue of pension reform remains contentious, with past proposals facing public backlash and political resistance.
  • Looming Crisis: Without significant reform, France's pension system threatens to exacerbate economic challenges and public discontent.

Read more at the original article: The Local

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