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French lawmakers reject wealth tax proposal on ultra-rich

Published by Global Banking & Finance Review

Posted on October 31, 2025

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· Last updated: January 21, 2026

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French lawmakers reject wealth tax proposal on ultra-rich
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PARIS (Reuters) -Lawmakers in France's lower house rejected on Friday multiple proposals for a wealth tax on ultra-rich as promoted by French economist Gabriel Zucman, who had called for a 2% tax on

French lawmakers reject wealth tax proposal on ultra-rich

Wealth Tax Proposal Overview

PARIS (Reuters) -Lawmakers in France's lower house rejected on Friday multiple proposals for a wealth tax on ultra-rich as promoted by French economist Gabriel Zucman, who had called for a 2% tax on assets over 100 million euros.

Key Arguments Against the Tax

(Reporting by Leigh Thomas, Editing by Dominique Vidalon)

Key Takeaways

  • French lawmakers rejected a wealth tax proposal.
  • The proposal targeted assets over 100 million euros.
  • Economist Gabriel Zucman promoted the tax.
  • The tax was set at 2% for the ultra-rich.
  • The rejection occurred in France's lower house.

Frequently Asked Questions

What is a wealth tax?
A wealth tax is a tax based on the market value of assets owned by an individual or household. It typically applies to high-net-worth individuals and is designed to reduce wealth inequality.
What are high-income economies?
High-income economies are countries with a high gross national income (GNI) per capita. These economies often have advanced infrastructure, high standards of living, and significant financial markets.
What is an asset?
An asset is any resource owned by an individual or entity that is expected to provide future economic benefits. Examples include cash, real estate, and investments.

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