Thursday, December 29, 2011

France Approves Soda Tax

France's Constitutional Council approved a new soda tax as part of the government's fight against obesity and to raise more revenue. This tax is also part of France's austerity measures to keep the government afloat.

The tax is about one euro cent per can of soda. The new tax is expected to bring in 120 million euros ($156 million) in revenue.

The government has said that it needs to make 100 billion euros in savings to balance the budget by 2016.

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