France's Finance Minister Open to Taxing 'Very Large Fortunes,' Considers Pension De-indexing

French Finance Minister Bruno Le Maire has indicated a willingness to consider a new contribution from the nation's wealthiest individuals, stating he is favorable to "what is asked of very large fortunes."

This suggestion comes as part of broader discussions surrounding the French budget. Le Maire also proposed de-indexing pensions, income tax brackets, and minimum social benefits from inflation. Such a move would mean these payments would not automatically increase with rising living costs, potentially saving the government money but reducing the purchasing power of recipients.

The minister's comments signal a potential shift in fiscal policy, aiming to balance the budget by both increasing revenue from high earners and controlling expenditure on social programs.

Le Maire's remarks were made in his capacity as former Economy Minister under Emmanuel Macron, suggesting these ideas are being considered within the current government's economic strategy.

The proposals are likely to spark debate, particularly the de-indexing of social benefits and pensions, which could disproportionately affect lower-income households and retirees.

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what is asked of very large fortunes