France joins the Pigou Club

The BBC reports that France is set to impose a carbon tax. Unfortunately, there is no discussion in the story of cutting other taxes. The goal of Pigovian taxation is to switch toward more efficient taxes, not to raise the overall tax burden.

Update: The Post reports some good news: "the government expects to raise euro 3 billion, which will be entirely returned to households and businesses through a reduction in other taxes or repaid via a so-called 'Green Check,' Sarkozy said."