2024-10-02 15:32:17
President Emmanuel Macron estimated this Wednesday that an “exceptional tax on companies”, as announced by the government of Michel Barnier, was “well understood by large companies” but that it should be “limited”.
Faced with France’s degraded public finances, “the solution must not be a short-term adjustment by cutting social spending (…) nor overtaxing because we do not have much room for fiscal maneuver,” said the head of state at a forum in Berlin the day after the Prime Minister’s general policy statement.
A “temporary” tax increase
Michel Barnier stressed on Tuesday that France’s “colossal” public debt was a “veritable sword of Damocles” which, if nothing was done, risked placing the country “on the edge of the precipice”.
Seeing in the reduction of expenses “the first remedy” for debt, he also announced that participation would be requested from “large companies which make significant profits” and from “the most fortunate French people”, in the name of “ tax justice”.
The Minister of Economy and Finance Antoine Armand reaffirmed on Wednesday that the least fortunate taxpayers and medium-sized businesses would be spared, and insisted on the fact that the tax increase for the wealthiest would be “temporary”.
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