France’s 2027 budget debate revives calls to tax the ultra-rich

France’s National Assembly is beginning debate on the 2027 budget as the country faces strained public finances and high public debt.

The debate has revived questions about whether the wealthiest people should pay more in tax.

Some left-wing lawmakers back a proposed minimum tax on fortunes above €100 million, known as the Zucman tax.

Supporters say the tax could raise revenue and address a system they see as allowing the very wealthiest to pay a smaller share of their wealth in tax.

Opponents warn higher taxes could discourage investment, while one lawmaker has called the proposal unconstitutional.

Disputes also cover inheritance tax and the Dutreil pact, which gives a 75% tax reduction when a business is passed on.

The arguments are also appearing in presidential campaign platforms, but the budget debate has only begun and no outcome is stated.