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PARIS (Reuters) - French President Emmanuel Macron on Monday pledged to cut taxes for pensioners and raise the minimum wage in January but refused to reinstate a wealth tax, as he sought to respond to a wave of protests that have challenged his authority.

“We will respond to the economic and social urgency with strong measures, by cutting taxes more rapidly, by keeping our spending under control, but not with U-turns,” Macron said in a TV address to the nation.