French parliament votes on steep spending cuts

The French government's economicprogramme was to beput to the test Tuesday in a vote in parliament on plans for 50billion euros (69 billion dollars) in spending cuts, dpa reported.The vote on the 2014-2017 stability programme is being billed as avote of confidence in Prime Minister Manuel Valls.Hollande announced a policy U-turn in January, ditching traditionalSocialist tax-and-spend policies for a more business-friendly or"supply-side economics" approach.The spending cuts, which will affect the local government, health andsocial welfare budgets, among others, will fund 40 billion euros incuts to employer payroll taxes that Hollande hopes will spur jobcreation.They also aim to keep France on target with its deficit-reductionprogramme.