CFDT Union Backs Taxing Wealthy Retirees and Inheritance 'From the First Euro'

France's CFDT labor union is advocating for significant fiscal reforms, including taxing the wealthiest retirees and imposing inheritance taxes starting from the very first euro. The union views addressing public spending and revenue as the top priority for French citizens and is willing to engage with the government on these proposals to ensure a fair distribution of the burden in balancing the national budget.

Marylise Léon, the CFDT's secretary general, stated that the union is "favorable to a contribution from the wealthiest retirees" but stopped short of defining a specific income threshold. She emphasized that the CFDT cannot provide a "magic number for savings" but is committed to working collaboratively to achieve fiscal balance. This stance aligns with the executive's plan to save 28 billion euros to close the budget gap for 2027.

Beyond retiree contributions, the CFDT is championing the taxation of inheritance from the "first euro," a measure they consider crucial for social justice. The union plans to discuss this proposal with candidates running in the upcoming presidential election, excluding Marine Le Pen. Léon questioned whether political leaders would have the "courage to assume that it could upset part of their electorate," highlighting the potential political ramifications of such a policy. The debate around inheritance tax in France is significant, as current regulations exempt a large majority of estates.