October 31, 2012 - 18:39 AMT
French President wants 160% increase in beer taxes

French President Francois Hollande is pushing through legislation to increase taxes on beer by 160%, according to RTE News.

He wants help to fund struggling social security programs as France tries to lower a budget deficit hit hard by the economic crisis.

The tax would affect local brewers and the 30% of imported beer the French drink.

The Brewers of Europe trade group called the measure a ''kick in the teeth" for brewers. They have seen production plummet by 6% and consumption by 8% in the EU since the economic crisis began in 2008.

Belgium and Germany could be the worst affected once the new legislation kicks in.