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6h ago

Zucman Presses Wealth Tax in Packed Assembly Debate as France Weighs Softer Alternatives

After excluding the levy from the 2026 budget, the government faces renewed pressure from economists who say only a minimum rate curbs avoidance.

Lors d'une marche pour la taxe Zucman, à Paris, le 28 septembre 2025.
Lors de la marche pour la taxe Zucman, dimanche 28 septembre, à Paris.
Lors de la marche «Climat, justice, libertés», à Paris le 28 septembre 2025.
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Overview

  • Economist Gabriel Zucman told a high‑profile National Assembly forum that proposed workarounds target only fragments of the problem and that a minimum tax floor is the most effective tool.
  • Prime Minister Sébastien Lecornu last week ruled out adding the 2% annual charge on fortunes above €100 million to the 2026 budget, keeping the measure off the government’s fiscal plan.
  • Officials are exploring narrower steps reported to include a higher flat tax on capital income, renewing a one‑year corporate surtax, and tightening the Dutreil scheme for family business transfers.
  • Nobel laureate Joseph Stiglitz urged the government to reconsider, saying France could act alone and limit any departures of wealthy households through an exit‑tax regime.
  • Former EU commissioner Thierry Breton criticized the proposal as political rather than economic, as international comparisons noted that Spain’s temporary solidarity tax raised roughly €2 billion in 2023.