US EditionFrench Budget: Heated Parliamentary Debates Produce No Consensus over Wealth Tax
18 Articles
18 Articles
leprogres.fr
After the vote by Modem, the Socialist Party and the National Rally of an amendment creating a tax on unproductive wealth, political scientist Arnaud Benedetti explains that alliances of circumstance can be built according to votes in a National Assembly without a majority and where the budgetary debate is sometimes held hostage to political calculations.
The National Assembly voted for the transformation of property tax into an "unproductive property tax", which was adopted by 163 votes to 150, and is a subject of debate.
French budget: Heated parliamentary debates produce no consensus over wealth tax
After Friday's intense negotiations at the Assemblée Nationale, proposals to tax France's ultra-wealthy failed. PM Sébastien Lecornu announced further discussions with parliamentary groups.
On Friday 31 October, the National Assembly voted for the creation of an "unproductive wealth tax", to replace the current property tax. Supported by an unexpected alliance of deputies, the measure divides the political class, some seeing it as a disguised return of the ISF.
Macronists and socialists did not agree on the taxation of the richest. On Friday evening, the Assembly approved the transformation of the property tax (IFI) into an "unproductive wealth tax".
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- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
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