France seeks windfall tax on banks, oil producers

France's new Socialist government has proposed new taxes on windfall profits made by French banks and oil-producing firms in 1980. It also proposed a new income tax of an unspecified amount for 156,000 top income-tax payers in 1981; a new tax on general expenses of large companies; and higher value-added tax rates on some luxury items.

The new taxes would pay for a $1.2 billion package to finance more than 54, 000 new public-sector jobs and measures to lessen unemployment among young people and women.