| rdfs:comment | - François Gérard Georges Nicolas Hollande is the current president of France as of May 15 2012. Hollande's economic policies are wide-ranging, including supporting the creation of a European credit rating agency, the separation of lending and investment in banks, reducing the share of electricity generated by nuclear power from 75 to 50% in favour of renewable energy sources, creating an additional 45% income tax for additional income of 150,000 euros, capping tax loopholes at a maximum of €10,000 per year. Hollande has also signalled his intent to implement a 75% income tax rate on revenue earned above 1,000,000 euros per year, to generate the provision of development funds for deprived suburbs, and to return to a deficit of zero percent of GDP by 2017. The tax plan has proven controversia
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| abstract | - François Gérard Georges Nicolas Hollande is the current president of France as of May 15 2012. Hollande's economic policies are wide-ranging, including supporting the creation of a European credit rating agency, the separation of lending and investment in banks, reducing the share of electricity generated by nuclear power from 75 to 50% in favour of renewable energy sources, creating an additional 45% income tax for additional income of 150,000 euros, capping tax loopholes at a maximum of €10,000 per year. Hollande has also signalled his intent to implement a 75% income tax rate on revenue earned above 1,000,000 euros per year, to generate the provision of development funds for deprived suburbs, and to return to a deficit of zero percent of GDP by 2017. The tax plan has proven controversial, with courts ruling it unconstitutional in 2012, only to then take the opposite position on a redrafted version in 2013. Hollande has also announced several reforms to education, pledging to recruit 60,000 new teachers, to create a study allowance and means-tested training, and to set up a mutually beneficial contract that would allow a generation of experienced employees and craftsmen to be the guardians and teachers of younger newly hired employees, thereby creating a total of 150,000 subsidized jobs. This has been complemented by the promise of aid to Small and medium enterprises, with the creation of a public bank investment-oriented SME's, and a reduction of the corporate tax rate to 30% for medium corporations and 15% for small. Hollande's government has announced plans to construct 500,000 public homes per year, including 150,000 social houses. In accordance with long-standing Socialist Party policy, Hollande has announced that the retirement age will revert to 60, for those who have contributed for more than 41 years.
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