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A Share of VAT will Fund the Regions from 2018

The Prime Minister Manuel Valls, travelling to Reims on Thursday announced that a share of VAT will replace in 2018 the funding of the state to the regions.

Manuel Valls said on Thursday in Reims, the overall funding from the State to the regions of France would be replaced after 2018 by the transfer of a “fraction of VAT” .

“Starting this year, the 2017 Finance Act will establish a transitional device, an action fund to support economic action” regions “within the limit of 450 million euros” , said the Prime Minister at the Congress the Association of regions of France (ARF).

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