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France News Today

French news in English

Saturday, November 23, 2024

France's Fiscal Shift: Taxing the Wealthy

Published: 2024-09-28

France is poised to reverse its seven-year trend of reducing tax pressure, with a new focus on taxing the wealthy and large corporations.

Prime Minister Michel Barnier has signaled a shift towards 'fiscal justice,' aiming to address the country's severe budgetary situation.

The proposed measures include targeted levies on the richest individuals and major businesses, sparking debate across political lines.

While the left welcomes the move, the right and center express concerns over economic competitiveness.

The upcoming 2025 budget is expected to be one of the most challenging to draft, as it seeks to balance fiscal justice with economic stability.

This shift marks a significant departure from previous policies under President Macron, which focused on tax reductions.