France Increases Beer Tax 160%

Bad news from AP:

President Francois Hollande is pushing through legislation to increase taxes on beer by 160 percent to help fund struggling social programs as France tries to contain a budget deficit hit hard by the economic crisis. 

The tax would affect local brews and the 30 percent of imported beer the French drink.

The change means the price of a beer will increase by about 20 percent in bars and supermarkets, said Jacqueline Lariven, spokeswoman for the French brewer's federation Brasseurs de France.

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