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French Assembly Takes Up Zucman Wealth Tax in High‑Stakes 2026 Budget Debate

With the Socialists threatening censure, ministers court votes with tougher taxation of holdings.

Overview

  • Lawmakers will first examine a government plan to raise taxes on patrimonial holdings before debating left-backed amendments to create a Zucman levy on fortunes above €100 million.
  • Prime Minister Sébastien Lecornu is expected in the chamber and has ruled out any form of the Zucman tax, while asking Bercy to cost opposition proposals.
  • The Socialist Party pitches a "light" alternative at 3% above €10 million excluding innovative and family businesses, with revenue claims ranging from €5–7 billion to €15 billion and criticism from both LFI and the center-right.
  • Rassemblement National and centrist deputies say they will vote no as the PS maintains a censure threat, and the vote on the budget’s revenue section has slipped to mid‑November.
  • Polling shows 74% support for taxing large fortunes, even as business groups and some economists warn of legal hurdles, avoidance risks and negative economic signals.