Blow for François Hollande as constitutional council vetoes Socialist policy at the 11th hour. France's constitutional council has dealt a blow to beleaguered Socialist president François Hollande by rejecting the new 75% rate of income tax due to come into effect on Tuesday. It declared the measure, the backbone of the French leader's successful presidential election campaign earlier this year, to be unfair and therefore unconstitutional. Immediately after the surprise legal ruling on Saturday, the French government pledged to redraft and resubmit the proposal. The so-called "supertax" rate of 75% on i ... (full story)