What will the French have to do if they want to pay less tax?
The French (individuals, companies) are protesting against the high level of the tax burden in France, and this burden is, admittedly, heavy in France compared with other European countries, on households (if we include VAT) as on companies. But the fiscal deficit is already high in France, and a reduction in the tax burden would therefore require a reduction in public spending. So what is the room for manoeuvre? When comparing the size of different public spending items in France and in the other euro-zone countries, we see a high level of public spending in France for all types of public spending and in particular pensions, housing and support for the economy. We see a 10% shortfall in labour productivity in the public sector in France.