France could change position on wealth tax, Macron ally suggests

  05 December 2018    Read: 976
France could change position on wealth tax, Macron ally suggests

A day after President Emmanuel Macron's administration backed down in the face of nationwide protests and suspended a fuel-tax, the government has suggested it could also amend a wealth tax that critics say goes too easy on the rich.

Speaking on RTL radio, government spokesman Benjamin Griveaux, a close ally of Macron’s, said all policies involving taxation needed to be reevaluated from time to time and, if deemed not to be working, should be changed.

“If a measure that we have taken, which is costing the public money, turns out not to be working, if it’s not going well, we’re not stupid - we would change it,” he said.

He defended Macron’s decision on coming into office last year to amend the wealth tax - known in France as ‘ISF’ - by narrowing it to a tax on real estate assets, rather than covering all worldwide assets, from jewelry to yachts to investments, over the value of 1.3 million euros.


More about: wealth-tax   France   Macron