Mr Sarkozy also suggested taking a cut of extra revenues generated by sales taxes on fuel products in order to create a fund for professionals who are struggling with everyday energy prices. He expects the fund to account for E150 million to E170 million every financial quarter.
The French president pointed out that with fuel prices showing no sign of receding, VAT cannot rise proportionally and needs to be stabilized.
Mr Sarkozy added that such a move needs to be approved by all 27 members of the European Union and cannot be unilaterally introduced by France, according to the news source.
