France Plans to Take 17% From Forgotten Bank Accounts
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The French government has a new plan for money. It wants to take money from old bank accounts. These accounts are inactive. This means nobody uses them anymore.
The government wants to take 17% from these accounts. This includes special savings accounts called Livret A. It also includes old life insurance contracts. These are plans people buy to protect their family with money.
Many people forget about these accounts. The money stays there for years. Now the government wants to use this money for the budget. A budget is a plan for spending money.
This plan is for the year 2027. The government hopes to get 1.4 billion euros. This is a very large amount of money. The government needs money for public services.
Some people may not like this plan. The money in these accounts belongs to people. But many owners have forgotten about it. The government says it can help the country.
Vocabulary15 words
- inactive
- not used; nobody touches it
- life insurance
- a money plan that helps your family when you die
- budget
- a plan for spending money
- savings account
- a bank account where you keep money
- government
- the group that runs a country
- billion
- a very big number; 1,000 million
- forgotten
- not remembered
- plan
- an idea about what to do
- money
- what people use to buy things
- public services
- things the government gives to everyone, like schools
- owner
- the person who has something
- special
- different from normal
- large
- very big
- amount
- how much of something
- country
- a nation, like France
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Quiz
Answer key
1. Forgotten and inactive accounts 2. 1.4 billion euros 3. True
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
The French government has a new _____ for money.
It wants to take money from old bank _____.
These accounts are _____. This means nobody uses them anymore.
The government wants to take 17% from these _____.
This includes special savings accounts called _____ A.
It also includes old life _____ contracts.
Now the government wants to use this money for the _____.
This plan is for the year _____.
The government hopes to get 1.4 _____ euros.
The money in these accounts belongs to _____.
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