France's Hollande could drop 75% tax rate

French President Francois Hollande has outlined a series of budget measures, including cuts, aimed at achieving economic recovery within two years.

Critics have accused the Socialist president of procrastination since his election in May.

Mr Hollande's headline-grabbing planned 75% upper tax rate to be imposed on annual income above 1m euros (£800,000; $1.28 million) could be dropped after two years, he told French television.

Philip Hampsheir reports.

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