François Gérard Georges Nicolas Hollande is the current president of France as of May 15 2012. Hollande's economic policies are wide-ranging, including supporting the creation of a European credit rating agency, the separation of lending and investment in banks, reducing the share of electricity generated by nuclear power from 75 to 50% in favour of renewable energy sources, creating an additional 45% income tax for additional income of 150,000 euros, capping tax loopholes at a maximum of €10,000 per year. Hollande has also signalled his intent to implement a 75% income tax rate on revenue earned above 1,000,000 euros per year, to generate the provision of development funds for deprived suburbs, and to return to a deficit of zero percent of GDP by 2017. The tax plan has proven controversia