Medef President Patrick Martin indicated on Monday that his movement was “ready to discuss” a corporate tax increase, but under conditions. “We are ready to discuss a corporate tax increase under two conditions,” he explained in an interview. to the Parisianwhile Prime Minister Michel Barnier spoke this Sunday of “targeted levies on wealthy individuals, or certain large companies” to help restore public finances.
Patrick Martin detailed his “conditions”: “First, if we have the demonstration that on the excess of public spending, the State makes efforts much greater than what it asks of companies. Then, that the requested effort does not stop the dynamic of investment and job creation in a very fragile economic situation.”
“We are in a constructive attitude towards this government,” noted Patrick Martin, “because we are aware that the situation of public finances is very serious and the political equation fragile.” He nevertheless declared that “French companies support the highest level of compulsory tax and social security contributions in the world, 364 billion euros per year.” He also noted that “there are already many taxes and duties that affect large companies more,” and that “we must not push the envelope too hard.”
Patrick Martin said that “we can talk” about taxing share buybacks, as the previous government was considering, but that it would be better to “encourage their profitable investments.” He also mentioned the risk of “scaring away” foreign investors with this measure.
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