French Socialists will seek to tax large fortunes

Paris, Oct 15 (Prensa Latina) Olivier Faure, First Secretary of the French Socialist Party (PS), announced on Wednesday that the party will promote through an amendment the discussion in the National Assembly of the so-called Zucman tax, which seeks to tax large fortunes.

October 15, 2025
12:42

Aware of the controversy surrounding economist Gabriel Zucman’s initiative, Faure, who is also a member of Parliament, told BFM TV that if the proposal is not adopted, they will seek other ways to increase contributions from “large heritages and large companies.” The tax intends to establish a two percent tax on fortunes exceeding 100 million euros.

In a context of public finance crisis, the left is demanding greater contributions from the wealthiest, while conservative politicians and employers reject the idea, arguing that attracting investment from the wealthiest and preventing them from leaving the country to obtain tax benefits is important.

France faces a complex situation, with a debt of 114 percent of the Gross Domestic Product (GDP) and a deficit of almost six percent, indicators among the worst in the European Union.

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