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Macron surrender to yellow vest protesters to cost €10bn

Tax relief and other fiscal measures announced by President Emmanuel Macron to try to calm nationwide protests will cost €8bn-€10bn, the French government has said.

Prime Minister Edouard Philippe told parliament the measures were “massive” and proof Mr Macron “has heard the anger”.

After weeks of violent demonstrations by “yellow vest” protesters, the president responded by boosting the spending power of pensioners and workers, including a €100 hike in the minimum monthly wage.

Mr Philippe said the aim was to make jobs pay better without hurting competitiveness.

A spokesman said the government would make savings in the budget to help finance the measures.

The protests have caused substantial economic losses to businesses that have lost customers in cities and towns.

There have also been five protest-related deaths and 1,407 people injured.


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