French Parliament members, left-wing and the centre working together to change the short-term tax on wealthy nations into a permanent one. This change has a desire to lessen France’s large public debt because nowadays it is one of the big complexities in France’s political landscape. Under the leadership of Prime Minister Michel Barnier, many officials are making efforts to solve the debt issues. This decision is a significant setback for France’s right-wing government. As this government is a minority in Parliament.
In response to this loss, the government is making efforts on the controversial plan. It is about to approve the whole budget for 2025 without any single vote from the national assembly. This strategy would permit them to ignore the regular voting process in which fairness is one of the major issues. Government spokeswoman Maud Bregeon said that by looking deep into this idea, pointing out the increased tension in France’s political land. The solution to this situation depends upon future government decisions and the nation’s economy.
The government is making plans to introduce a new tax on rich people for up to 3 years. This proposal for a tax on wealthy people helps to lessen France’s large public deficit. This public deficit is expected to cross the value of 6.1 % of the economy in 2024. According to the European Union, this debt should be under 3%.
Last Tuesday, left-wing deputies joined forces with the centrist Modem party, which is part of the government’s coalition, to make this tax long-term or permanent. At the initial stage, the government had aimed to make this tax short-term, but now the decision has been changed.
Now the question is which people can pay this tax. All individuals who earn more than 250,000 euros or couples earning more than 500,000 euros annually have to pay this tax.
This decision is one of the significant shifts because, at the initial stage, the government decided that this tax would be temporary, but now the official has decided to make this tax permanent. This move highlights growing concern over France’s financial health and efforts to control its public debt.
The head of the left-wing France Unbowed (LFI) party, Mathilde Panot, hailed the vote as a win and attacked the government for forcing everyone to make sacrifices except the wealthy. Another LFI member, Eric Coquerel, concurred, stating that while others suffer, the wealthy are shielded. This demonstrates their worry about unjust treatment.
President Macron’s centrist Rebirth party’s Mathieu Lefevre, meanwhile, compared the vote to “tax revenge.” He thinks that in order to prevent economic issues, the government should enact laws without a vote.
