Economy
France’s economic freedom score is 62.5, making its economy the 73rd freest in the 2015 Index. Its overall score has decreased by 1.0 point, with particularly large declines in labor freedom and the management of government spending. France is ranked 33rd out of 43 countries in the Europe region, and its overall score is higher than the world average but below the regional average.
EU members have a 1.0 percent average tariff rate. France protects its film industry from competition and imposes quotas on the broadcast of foreign television shows and music. The government screens foreign investment in some sectors. The competitive financial sector, dominated by banks, stable, and open to competition, offers a wide range of services. Foreign financial firms have gained considerable market share.
France’s top individual income tax rate is 45 percent, and its top corporate tax rate is 34.3 percent. Other taxes include a value-added tax and a tax on inheritance. Overall tax revenue equals about 45.3 percent of domestic income, and government spending equals 57.0 percent of gross domestic product. Public debt is close to 94 percent of annual domestic output.
EU members have a 1.0 percent average tariff rate. France protects its film industry from competition and imposes quotas on the broadcast of foreign television shows and music. The government screens foreign investment in some sectors. The competitive financial sector, dominated by banks, stable, and open to competition, offers a wide range of services. Foreign financial firms have gained considerable market share.
France’s top individual income tax rate is 45 percent, and its top corporate tax rate is 34.3 percent. Other taxes include a value-added tax and a tax on inheritance. Overall tax revenue equals about 45.3 percent of domestic income, and government spending equals 57.0 percent of gross domestic product. Public debt is close to 94 percent of annual domestic output.
Works Cited
http://www.heritage.org/index/country/france
http://www.heritage.org/index/country/france