france’s Top Auditor Suggests Wealth Tax as Part of budget Solution
PARIS – Pierre Moscovici, First President of the Court of auditors, stated Friday that it is indeed reasonable to ask France’s wealthiest citizens to contribute to the nation’s financial recovery, especially as the government aims to reduce the public deficit to a maximum of 3% of GDP by 2029.
Moscovici,speaking on Public Sénat ahead of his planned departure from the Court of Auditors at the end of the year,emphasized that simply raising taxes across the board is not the answer,noting France already has a high tax burden. “Quantitatively, it is rather towards the expenses that must be turned,” he said.
However,he acknowledged a contribution from the wealthiest could address a growing sense of inequality and injustice. “Let’s put that I am immensely rich: what would it cost me at the bottom to say to myself: I pay a little for my country?” Moscovici posed, suggesting even a 1 or 2% levy wouldn’t be substantial for those with significant wealth.
His comments come as the Socialist party champions the implementation of a “Zucman tax” – a 2% annual tax on fortunes exceeding 100 million euros – included in the draft 2026 budget. prime Minister Sébastien Lecornu is seeking to pass the budget without opposition censure.
Moscovici concluded by stating that “at a time when all French people are asked to get their hands in the pocket, all French to make an effort, the richest must also contribute.”
