Overview

• Government spokesperson Sophie Primas reiterated opposition to a 2 percent levy on fortunes above €100 million, arguing it would force entrepreneurs to sell assets and undermine France’s economic appeal.
• The Senate overturned the National Assembly’s February approval of the proposal in June, underscoring deep legislative divisions over redistributive policy.
• Seven Nobel laureates in economics publicly urged France on July 7 to adopt the levy as a global model for equitable taxation.
• Advocates have vowed to reintroduce the tax in the autumn finance bill and to challenge the current Senate majority.
• The government warns that nearly 1,800 ultra-rich households could relocate if the levy passed, although supporters note a five-year exit-tax rule designed to deter fiscal exile.