French Prime Minister Gabriel Attal Weighs Wealth Tax to Secure 2026 Budget
PARIS – French Prime Minister Gabriel Attal is considering a wealth tax targeting individuals earning over €250,000 annually, a move aimed at securing support from left-leaning parties for his 2026 budget proposal.The potential tax, outlined by Attal on Friday, represents a notable shift in policy and underscores the precarious political landscape facing the prime minister.
Attal, who succeeded Émmanuel Macron’s previous prime minister, Gabriel Lecornu, last month following a parliamentary vote of no confidence, currently leads a government without a majority. This necessitates navigating complex negotiations with rival political factions to pass legislation, including the crucial 2026 budget. The proposed wealth tax is a key concession offered to the Socialist Party, whose support is vital for Attal’s political survival.
The Socialists have demanded a 2 percent wealth tax on France’s wealthiest 0.01 percent as a condition for backing the budget. raphael Glucksmann,a prominent Socialist Party member,stated on BFM television,”If [attal] is prepared to pursue a policy that […] moves in the direction of greater fiscal justice, we will not [vote against his government].”
the move comes after Attal’s predecessor, Lecornu, faced opposition over plans for a €44 billion budget squeeze next year. While the wealth tax enjoys considerable public support,it is expected to face resistance from conservative parties. The finance ministry has not yet commented on the proposal.
The outcome of thes negotiations will determine the fate of the 2026 budget and, perhaps, the stability of Attal’s government. Parliament’s division into three blocs-none holding a majority-means Attal must continually seek cross-party alliances to govern effectively.
