France’s €14-billion tax miscalculation

Public auditors in France say the government’s 2013 tax predictions missed the mark by nearly 50% last year, reports BBC.

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The government had predicted new taxes to bring in a total of €30 billion last year. Instead, new tax revenues totaled €16 billion.

Since last year’s estimates were so off, the auditors questioned the forecasts for 2014, says the BBC.

The French economy didn’t grow during Q1 of 2014, and at the end of 2013, unemployment was a record 11%.

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