Overview

• Seven Nobel laureate economists published a tribune in Le Monde on July 7 urging immediate adoption of a 2% minimum wealth tax for fortunes exceeding €100 million.
• The proposal was approved by the National Assembly in February but blocked by the Senate on June 12, leaving the measure stalled in parliament.
• The economists argue that a percentage-based floor would close loopholes, tackle all forms of tax optimization and ensure the ultra-rich pay at least 2% of their net wealth.
• They cite data showing global billionaires hold 14% of world GDP while French billionaires account for nearly 30% of France’s GDP and point to France’s unilateral adoption of VAT in 1954 as a precedent.
• Left-wing lawmakers plan to refile the measure in the autumn finance bill, estimating it could raise €15–20 billion to help address the public deficit.