fiscal shift – To redress public finances, Michel Barnier promises not to “further increase taxes” on the “most modest” and the “middle classes”
With Michel Barnier at Matignon, a fiscal shift should indeed be taken but it should not affect everyone. On Sunday, the Prime Minister explained what he meant by “fiscal justice”, revealing that he would only ask the wealthiest taxpayers and companies to make an increased effort to straighten out public finances.
“I am not going to increase taxes further on all French people who already pay the most taxes of all European partners,” declared the tenant of 57 rue de Varenne on France 2, “neither on the poorest people, nor on people who work, nor on the middle classes.”
The public deficit slippage
On the other hand, he indicated that he “did not rule out the possibility that the wealthiest people would participate in the national effort” via “targeted levies” that would also affect “certain large companies”. He did not rule out an increase in corporate tax for the latter.
The country’s finances are in a slump, mainly due to the massive aid granted during the Covid-19 and inflation crises, and lower-than-expected revenues since 2023. The public deficit could reach 5.6% of GDP this year – instead of the anticipated 5.1% – v(…) Read more on 20minutes
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