Socialist France Passes Bill Making it Illegal to Close Private Businesses

World Events and the Bible

WEB Notes: The socialist government of France has passed a bill banning the closure of businesses amidst the economic down turn. The bill was approved by Parliament, and now heads to the Senate. Frances tax rate has gone up tremendously due to their socialist government and is driving away businesses, thus this bill being placed on the table. You can read the entire Google translated article below.  

(Deutsche Wirtschafts Nachrichten) – To meet the increasing unemployment to declare war , the French Parliament is finally taking unusual steps . On Tuesday , the Parliament voted for a bill that closing the factory in France to stop . Thus, companies threaten punishment if they simply close a profitable factory. However, the new law could well put off many new investors.

So companies need to look with more than 1,000 employees three months intensive for a buyer for the factory profitable , according to Reuters . Includes the company’s factory but without having an intensive search for a buyer , it is expensive. Per employee discharged or dismissed the company then threaten penalties in the amount of 20 times the minimum wage. This is 1,430 euros .

Following approval in Parliament must now the Senate and the connection of the controlled Hollande’s party National Assembly approve the so-called Florange law. The law is named after the steelworks Florange . Hollande and Moscovici , the French finance minister had tried in vain ArcelorMittal discourage the closure of the plant (here).

Hollande can use to redeem this promise good choice . His poll numbers are still in the basement. Unemployment in France is more than ten percent. In the second quarter made ​​it the French economy with a GDP growth of 0.5 per cent out of recession . The biggest GDP growth in 15 months. – Deutsche Wirtschafts Nachrichten: Planned economy : France wants to provide closure of companies under penalty

One thought on “Socialist France Passes Bill Making it Illegal to Close Private Businesses

  1. Actually I can see a positive point to this as it does prevent outsourcing which has left European and American industries crippled by moving work to Asia but will it make a difference? I think not because all the companies will do is pay the fine and still move the industrial concern out of the country.

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