French Lawmakers Advance 2% Wealth Tax on Ultra-Rich

The proposed tax targets fortunes exceeding €100 million, aiming to generate up to €25 billion annually.

A 2% minimum wealth tax on individuals with assets over €100 million has been approved in France's Finance Committee and will be debated in the National Assembly on February 20.
The proposal, championed by ecologist MP Eva Sas and inspired by economist Gabriel Zucman, seeks to address what proponents see as insufficient taxation of the wealthiest 0.01% of taxpayers.
Support for the measure comes from left-wing parties, while centrist and right-wing groups oppose it; the far-right National Rally abstained during the committee vote.
The tax is projected to raise between €15 billion and €25 billion annually, with provisions including an 'exit tax' to prevent fiscal migration by affected taxpayers.
The proposal reflects a broader international push for fairer wealth taxation, following a G20-backed report advocating a coordinated 2% billionaire tax.