Overview

• Sébastien Lecornu is set to meet Socialist Party representatives on Wednesday, with the party insisting on the tax as a prerequisite for budget talks.
• The proposal establishes a 2% minimum annual contribution on net wealth above €100 million, applying only when total taxes paid fall below that threshold and targeting roughly 1,800 households.
• Gabriel Zucman estimates up to €20 billion in yearly revenue, while a group of seven economists argue the realistic yield would be closer to €5 billion.
• To handle illiquid holdings, the plan envisions allowing some taxpayers to pay in kind with company shares, which the state could retain or resell domestically, including to employees.
• French tech investors and founders publicly denounce the measure as counterproductive, business groups warn of damage to startups and potential capital flight, right-leaning voices raise constitutional concerns, and the prime minister remains hostile but open to other anti-avoidance steps.