France is kind to the richest. Parliament rejected Zucman's tax proposal

On Friday, the French Parliament rejected a proposal for a tax on the richest, known as the Zucman tax, both in its original version and in the compromise version presented by the Socialist Party. The right and the extreme right have spoken out against burdens on the richest.

The left voted for Zucman's tax, including the Socialist Party, on whose position the survival of Prime Minister Sebastin Lecornu's government depends. In the name of fiscal justice, the left, inspired by the ideas of the French economist Gabriel Zucman, proposed a tax of 2%. from fortunes exceeding EUR 100 million.

228 deputies voted against this proposal, 172 in favor. The vote took place during the debate on the draft budget for 2026. – We are against increasing taxes that will stifle employment and economic activity – argued in parliament the head of the right-wing faction of the Republican party, Laurent Wauquiez.

The socialists assured that the debate is not over, because other proposals will be presented, in the form of amendments to the budget law, e.g. restoring the ISF tax (solidarity tax on wealth), abolished in 2017.

The vote highlighted the divisions in parliament, in which President Emmanuel Macron's centrist political camp also spoke out against burdens for the richest, arousing voices on the left that one cannot ally with him, but should strive to implement – independently – the leftist program.

The left also believes that voting against taxing the richest shows the real face of the far right, which positions itself as the defender of ordinary people.

In an attempt to maintain the support of the Socialist Party, Prime Minister Lecorn announced on Friday that the government is ready to abandon plans to freeze pensions and social benefits in next year's budget.

Zucman, who spoke to the media Friday morning before the vote, argued that rejecting the tax would be an admission that “billionaires have the right to pay zero taxes.” – This will be irresponsible, because in the current situation of very deteriorated public finances, the ultra-rich need to make an effort – said the economist.

In September this year In an Ifop poll, 86 percent expressed a favorable opinion about Zucman's tax. respondents.

From Paris Anna Wróbel (PAP)

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