Hollande unveils 7bn-euro tax rise for rich and firms

French President Francois Hollande has announced plans to raise taxes on businesses and the richest households by 7.2bn euros (£5.8bn; $9bn).

He unveiled plans for a 2.3bn-euro one-off levy on households earning 1.3m euros a year or more.

There will also be a special tax on large banks and oil companies which is forecast to raise 1.1bn euros.

via www.bbc.co.uk