FRANCE - President Nicolas Sarkozy has announced plans to amend France's pension reform to prevent parents who interrupt their careers to raise children from being penalised.
Sarkozy (pictured) made the pledge to tweak the bill, which is currently being debated in the Senate, following a week of strikes and protests.
The total cost of the amendments is €3.4bn ($4.75bn), which will be financed through increased taxes on capital and real estate sales, Sarkozy's office said.
The government intends to raise the retirement age to 62 from 60 and increase the age for a full pension to 67 from 65. The legislation also increases taxes on households and companies to help plug the deficit of the country's pay-as-you-go pension system.
Trade unions are threatening an open-ended strike starting next week 12 in protest against the changes.
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