Emmanuel Macron throws $118 billion lifeline for French economic relaunch

The plan, key for Macron's re-election in 2022, seeks to boost growth with lower tax on businesses

Emmanuel Macron’s government unveiled the long-awaited ^100 billion ($118 billion) stimulus plan the French president is betting on to transform the economy and his political fortunes with less than two years to go until elections.

The plan, dubbed “France Relaunch,” includes wage subsidies, tax cuts for businesses and funding for environmental projects. It aims to shift away from the emergency spending of the Covid crisis to addressing longer term problems of weak investment and job creation in the euro area’s second largest economy.