France's budget minister backs raising household electricity tax amid budget squeeze

FILE PHOTO: Newly-appointed French Junior Minister for Budget and Public Accounts Laurent Saint-Martin arrives to attend the first weekly cabinet of the new government at the Elysee Palace in Paris, France, September 23, 2024. REUTERS/Sarah Meyssonnier/File Photo

PARIS (Reuters) - The French government supports removing caps on household electricity taxes as it rushes to plug a massive hole in the country's finances, France's budget minister said on Tuesday.

"These caps have cost billions and billions of euros to French taxpayers," Laurent Saint-Martin told franceinfo. "With inflation falling below 2% and energy prices under control again, should we remove the caps? My answer is yes."