French lawmakers delay debate on wealth tax
French legislators postponed debate on a wealth tax proposal until next week while working toward a year-end budget deadline. Prime Minister Sebastien Lecornu faces demands from leftist parties for higher levies targeting affluent citizens as part of deficit reduction efforts.
Socialist lawmakers want a 3% minimum tax on assets exceeding 10 million euros, while protecting family enterprises. Budget Minister Amelie de Montchalin rejected measures affecting business holdings and production capacity. Economist Gabriel Zucman warned against weakening his original plan that would collect 20 billion euros annually from wealthy households.
Parliament remains divided after elections left no clear majority. The right secured the elimination of overtime taxes on Saturday evening. Lecornu survived a confidence vote earlier this month by suspending pension changes under pressure from Socialists.
