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French PM plans new tax on people earning over 250,000 euros a year, Les Echos says
The proposed tax aims to raise up to 4.5 billion euros by targeting high earners and closing tax loopholes used by super-wealthy holding companies, officials said.
- On Saturday, French Prime Minister Sebastien Lecornu plans a tax targeting individuals earning over 250,000 euros to secure Socialist opposition backing for the 2026 state budget, Les Echos said.
- After parliament ousted Francois Bayrou last month, Lecornu became President Emmanuel Macron's fifth prime minister in two years and now leads a minority government in a parliament divided into three blocs.
- A first measure would renew a one-off tax introduced last year by Francois Bayrou to ensure high-earning tax households pay at least 20%, while targeting 30,000 holding companies to curb dividend tax avoidance.
- The Socialists want a 2% wealth tax on France's 0.01% as the price for their support, and Raphael Glucksmann said `If is prepared to pursue a policy that...moves in the direction of greater fiscal justice, we will not `.
- Les Echos calculated that two measures targeting taxpayers declaring more than 250,000 euros or couples declaring 500,000 euros would raise 3 billion euros next year, with the holding-company measure adding just over 1 billion for 2026 and total contributions reaching 4 to 4.5 billion euros.
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French politicians still in deadlock over country's budget
France's new Prime Minister is tackling the country's budget - with a proposal for a new tax targeting individuals with annual incomes of 250,000 euros or more. He also wants to crack down on the super wealthy's use of holding companies as a piggy bank. This comes as French politicians are currently in a deadlock over the country's budget.
·France
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French PM plans new tax on people earning over 250,000 euros a year, Les Echos says
French Prime Minister Sebastien Lecornu plans a tax targeting individuals with annual incomes of over 250,000 euros to try to win the Socialist opposition's backing for his government's 2026 state budget, financial daily Les Echos said on Saturday.
·United Kingdom
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Coverage Details
Total News Sources18
Leaning Left2Leaning Right5Center7Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
14%
C 50%
R 36%
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