The French National Assembly on Friday approved an amendment to the government's 2025 austerity budget bill that levies a 'billionaire tax' on the country's wealthiest individuals: the amendment imposes a 2% tax on individuals with wealth exceeding 1 billion euros. However, the proposed tax is still far from being implemented, as the amendment to the 2025 budget bill must also be approved by the Senate. Budget negotiations are expected to continue until December. Left-wing lawmakers estimate that this tax could generate approximately 13 billion euros in additional revenue.
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The French National Assembly on Friday approved an amendment to the government's 2025 austerity budget bill that levies a 'billionaire tax' on the country's wealthiest individuals: the amendment imposes a 2% tax on individuals with wealth exceeding 1 billion euros. However, the proposed tax is still far from being implemented, as the amendment to the 2025 budget bill must also be approved by the Senate. Budget negotiations are expected to continue until December. Left-wing lawmakers estimate that this tax could generate approximately 13 billion euros in additional revenue.