In contrast to the wealth tax promoted by the left, the French one remains government her of Franceeven as the Socialists maintain their threat to oust Prime Minister Sebastien Lecorny if there is no significant tax increase on the rich.
The vote on the amendment proposed by the Socialistswho have too much influence in parliament, is expected to take place later this week. The proposal, under discussion by the French government, would limit the scope of a wealth tax named after economist Gabriel Zucman, forcing people with wealth exceeding 10 million euros ($11.6 million) to pay taxes corresponding to at least 3 percent of their wealth, with exceptions for “innovative” and family-owned companies.
“You can call it Zucman-lite, but if it affects production, factories or big start-ups that are innovating, we will oppose it,” government spokeswoman Maud Bregeon told BFM TV on Tuesday (28.10.25).
The comments come after Socialist Party leader Olivier Faure said on Sunday (26.10.25) that if the budget bill was rejected, there would be a vote of no confidence, followed by a possible dissolution of the National Assembly and new parliamentary elections. But the Socialists are also in a vulnerable position, as polls suggest the centre-left would do poorly in such a vote.
A crucial vote on the 2026 budget is expected to take place next Tuesday (4.10.25), when lawmakers will decide whether or not to pass the general revenue part of the bill.
France’s National Assembly is divided into divided blocs with no one group holding a majority. To even get to the stage of budget discussions, the prime minister has already suspended the signing of President Emmanuel Macron’s pension reform in order to satisfy a key demand of the Socialist Party.