A law "in favour of work, employment and purchasing power" is reforming extra hours' social and fiscal system in order to make them more attractive both to employees and employers. It also regulates the conditions of payment of executives' golden parachutes. (Ref. 070739)
All extra hours performed after October 1, 2007 will be subject to an exceptional fiscal and social system. Such is the key measure of a law “in favour of work, employment and purchasing power” (TEPA), passed on August 21 with a goal to increase the number of hours worked to whip up growth and, as a consequence, employment. The idea is also to revive the French’s purchasing power, in accordance with Nicolas Sarkozy’s motto during his electoral campaign: “work more to earn more.”
- A new social and
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