France Approves Tax on Sugary Drinks

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France is placing a new tax on all sugary beverages in an attempt to fight obesity and to boost state coffers.

The country's constitutional council officially approved the new tax Wednesday. It had been announced by government officials in August.

The measure is expected to bring in more than $129 million to the French government to help improve its financial situation.

The revenue would be used to fund lower social security charges for farm workers, the government said.

Soft drink companies, including Coca-Cola, have criticized the new tax.

In September, the soft drink giant announced it had cancelled its plans for expansion of a beverage plant in the south of France in a symbolic protest against the tax.

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