"The French Socialist party says it will fight to introduce a flagship wealth tax to raise revenue by targeting France's richest people, as the divided parliament prepares to begin debating next year's budget. Boris Vallaud, the head of the Socialist party grouping in parliament, said on Wednesday that taxing very high-wealth individuals in France was one of our principal battles and we're going to put all our energy into it."
"The centre-left party is seeking to capitalise on the unprecedented political crisis that has weakened the new centrist prime minister, Sebastien Lecornu, after he resigned last week and was reappointed four days later. The Socialists are now proposing the Zucman tax, named after an idea put forward by the French economist Gabriel Zucman, under which a 2% levy would be imposed on wealth above 100m, which would affect about 0.01% of taxpayers."
The Socialist party intends to introduce a flagship wealth tax targeting France's richest people. The Socialists propose the Zucman tax: a 2% levy on wealth above 100m, affecting about 0.01% of taxpayers. The centre-left seeks to capitalise on a political crisis that weakened centrist prime minister Sebastien Lecornu after his resignation and rapid reappointment. Two votes of no-confidence are expected from La France Insoumise and the National Rally, but the Socialists will not join those motions. The Socialists conditioned support on a parliamentary debate of the contested 2026 budget. Lecornu suspended Macron's pension changes to secure their restraint.
Read at www.theguardian.com
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