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Despite significant reform and privatization over the past 15 years, the government continues to control a large share of economic activity: Government spending, at 53.5% of GDP in 2006, is among the highest in the G-7. Regulation of labor and product markets is pervasive. The government continues to own shares in corporations in a range of sectors, including banking, energy production and distribution, automobiles, transportation, and telecommunications.
Despite significant reform and privatization over the past 15 years, the government continues to control a large share of economic activity: Government spending, at 53.5% of GDP in 2006, is among the highest in the G-7. Regulation of labor and product markets is pervasive. The government continues to own shares in corporations in a range of sectors, including banking, energy production and distribution, automobiles, transportation, and telecommunications.
[[File:Chenonceaux France.jpg|thumb|260px|Chenonceaux.]]
Legislation passed in 1998 shortened the legal work week from 39 to 35 hours for most employees effective January 1, 2000. Recent assessments of the impact of work week reduction on growth and jobs have generally concluded that the goal of job creation was not met. The former administration introduced increasing flexibility into the law, returning the country to a de facto (if not de jure) 39-hour work week in the private sector. Under President Nicolas Sarkozy's impetus, overtime work will be exempt from income taxes on October 1, 2007, a move to encourage work and to increase work duration.
Legislation passed in 1998 shortened the legal work week from 39 to 35 hours for most employees effective January 1, 2000. Recent assessments of the impact of work week reduction on growth and jobs have generally concluded that the goal of job creation was not met. The former administration introduced increasing flexibility into the law, returning the country to a de facto (if not de jure) 39-hour work week in the private sector. Under President Nicolas Sarkozy's impetus, overtime work will be exempt from income taxes on October 1, 2007, a move to encourage work and to increase work duration.