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Tax the rich or fall: French PM faces budget ultimatum
The proposed 2% tax on fortunes over €100 million targets 1,800 households and could raise up to €20 billion annually to help reduce France's budget deficit, officials said.
- French Prime Minister Sébastien Lecornu faces a critical decision on a 2% wealth tax targeting billionaires amid ongoing budget preparations in 2025.
- The tax proposal, designed by economist Gabriel Zucman, passed the lower house in February but was rejected by the Senate and may face constitutional challenges.
- The proposal targets wealth above €100 million, aiming to affect about 1,800 households and potentially raise up to €20 billion annually to reduce France's large budget deficit.
- An Ifop poll shows 86% public support for the tax, while critics warn it could discourage investment, especially if business-owners’ assets, like shares in startups such as Mistral AI valued at €11.7 billion, are included.
- Lecornu's political survival depends on negotiating with Socialist lawmakers who back the tax, while concerns remain about balancing tax justice with preserving investment and competitiveness.
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17 Articles
17 Articles
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Since Sébastien Lecornu's appointment as prime minister, Gabriel Zucman's name has been everywhere in French media. The economist's proposal for a 2% wealth tax on the ultra-rich has returned to the forefront of public debate.
·Paris, France
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"Zucman tax": A solution to France’s budget woes?
As French PM Sébastien Lecornu faces the gargantuan job of getting a national budget across the finish line, the solution to breaking the political deadlock in the National Assembly could be a "Zucman tax", an idea floated by left-wing parliamentarians and activists. FRANCE 24 takes a look at what the proposal entails.
·France
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Coverage Details
Total News Sources17
Leaning Left2Leaning Right2Center5Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 22%
C 56%
R 22%
Factuality
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