{"id":504638,"date":"2025-10-16T17:01:18","date_gmt":"2025-10-16T17:01:18","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/504638\/"},"modified":"2025-10-16T17:01:18","modified_gmt":"2025-10-16T17:01:18","slug":"socialists-in-france-push-wealth-tax-policy-forward","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/504638\/","title":{"rendered":"Socialists in France push wealth tax policy forward"},"content":{"rendered":"

France\u2019s socialist party are trying to use the current crisis in French politics to push through a wealth tax<\/a>. The country\u2019s political leadership is currently weakened after the resignation and quick reappointment of prime minister S\u00e9bastien Lecornu.<\/p>\n

Other French parties had pushed for a no-confidence vote to topple Lecornu. This included the far-right National Rally party of Marine Le Pen. The Guardian reports<\/a> Lecornu may now survive because the socialists stepped back from joining the attack.<\/p>\n

However, socialist leader Olivier Faure wants a levy on the super-rich:<\/p>\n

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In the forthcoming debate, we on the left will be working together to defend the Zucman tax and public services and to protect the poorest.<\/p>\n<\/blockquote>\n

He added \u201cwe\u2019ll have other proposals on a whole range of ways of targeting large fortunes, high wealth and big companies\u201d.<\/p>\n

Socialists in France propose Zucman tax<\/p>\n

The Zucman tax is named after economist Gabriel Zucman<\/a> who suggested a 2% tax on the richest 1800 household. Proponents say it would raise 20 billion Euros.<\/p>\n

Reuters describes the proposal<\/a>\u00a0as \u201ca 2% levy on wealth above 100 million euros, affecting about 0.01% of taxpayers\u201d.<\/p>\n

The ongoing crisis hinges on a national budget which some say must be cut sharply. Typically, pensions were being eyed up for the chop, but Lecornu backed down<\/a>.<\/p>\n

The Guardian said<\/a>:<\/p>\n

\n

The budget, which aims to reduce the deficit to 4.7% of GDP from this year\u2019s 5.4%, hinges on a squeeze of more than \u20ac30bn, including cuts to corporate tax breaks, tighter rules on social welfare contributions, and new taxes.<\/p>\n<\/blockquote>\n

Working class power<\/p>\n

All in all, it seems like some of France\u2019s poorest have escaped a class war attack. Clearly, this is much to the annoyance of the super-rich and France\u2019s poor-bashing far-right.<\/p>\n

As the Canary reported on 3 October, impetus for a wealth tax was built from below through trade unions<\/a>:<\/p>\n

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\u2026in protest against austerity measures. They\u2019re pressing newcomer PM S\u00e9bastien Lecornu to consider a wealth tax on the super-rich, rather than cutting the budget for citizens already struggling with years of economic turmoil.<\/p>\n<\/blockquote>\n

All things considered, the plan is an important step toward wealth redistribution for both the working classes of France, as well as socialists in other nations.<\/p>\n

Featured image via the Canary<\/p>\n","protected":false},"excerpt":{"rendered":"France\u2019s socialist party are trying to use the current crisis in French politics to push through a wealth…\n","protected":false},"author":2,"featured_media":504639,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5309],"tags":[13626,2000,299,36],"class_list":{"0":"post-504638","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-france","8":"tag-cost-of-living-crisis","9":"tag-eu","10":"tag-europe","11":"tag-france"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115384921842978544","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/504638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=504638"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/504638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/504639"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=504638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=504638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=504638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}