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Reading: France wants to make one-off wealth tax permanent
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Home » Blog » France wants to make one-off wealth tax permanent
France

France wants to make one-off wealth tax permanent

Henry Blake
Henry Blake
11 months ago
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The Minister of Economy, Finance and Industrial and Digital Sovereigty of France, Eric Lombard in Warsaw, Poland, on April 11, 2025.
The Minister of Economy, Finance and Industrial and Digital Sovereigty of France, Eric Lombard in Warsaw, Poland, on April 11, 2025. Wojtek Radwanski / AFP

The Minister of Economy of France said on Sunday, April 13 that Het wants to make a temporary tax on the rich in a permanent tax to make the government’s finances “more equitable.” Eric Lombard said the measure would be part of the efforts to find 40 billion euros next year, mainly savings, to bring the public deficit to 4.6% or GDP in 2026.

Lombard said that tens of thousands of great French winners would have to pay more every year while the country fights a mountain of debt that has worried the markets and grades agencies. Individuals who earn more than 250,000 euros ($ 285,000) per year and couples with a joint income of more than 500,000 euros will pay this year a minimum tax to 20% of the rent. The government said last year that the special “contribution” would be temporary. But Lombard told BFMTV of France: “I hope the contribution is lasting,” he added that he had brought two billion euros ($ 2.27 billion) by 2024.

Read more Subscripts only ‘France’s 2025 budget is an uncomfortable commitment, lacking direction, courage and a structural remedy’

His ministry had begun to work to “verify that the mechanisms that allow reduction” or taxes for the richest “work in a more equitable way,” he added, and pointed out that the special tax on the main companions that are not not being.

“On the other hand, the two billion of the contribution of high -trip dining rooms … We want to work on this, whether maintaining or improving it,” he said. It was “a matter of financial resources, two billion are a lot, and a matter of equity. We are making great effort to all,” said the minister, who insisted that it would only be a tax on income.

Lombard’s office told AFP that the objective of the new measure would be “to combat taxes.” France is “on a budget alert,” Lombard told BFMTV, blaming the country’s “cumulative deficit.” The cut of 40 billion euros in spending would focus “mainly” on “savings,” he added, but “it could also be an increase in growth related to growth.”

France’s debt increased by 202.7 billion euros to 3.3 billion euros ($ 3.55 billion) last year, which represents 113% of GDP, according to the official statistics agency and Lombard, knew that this was a threat to the stability of France.

I move with AFP

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