""We need to tax the ultra-rich and mega-inheritances,""
""If there is no progress by Monday, it will be over,""
Prime Minister Sébastien Lecornu pledged to pass an austerity 2026 budget through a divided parliament by year-end after two predecessors fell over cost-cutting. He suspended an unpopular pensions reform to secure Socialist support in a confidence vote and pledged not to use constitutional powers to force the budget. The Socialist group demanded a tax on the ultra-rich, which Lecornu refused and omitted from the draft. A parliamentary commission rejected the proposed budget 37-11 and the lower house will debate it. Socialist leader Olivier Faure threatened to oust the government unless a levy on the mega-wealthy is added. Economist Gabriel Zucman estimated a two percent tax on assets above €100 million could raise about €20 billion annually from roughly 1,800 households.
Read at The Local France
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