French PM Barnier Signals Tax Increases for Wealthy Amid Budget Concerns
French Prime Minister Michel Barnier emphasized the need for a “national effort” to address the country’s public-sector deficit, following France’s placement under a formal procedure for violating EU budgetary rules. In an interview with France 2, Barnier described the financial situation as “very serious” and stressed the importance of both spending cuts and increased revenue.
While he ruled out across-the-board tax increases, Barnier stated that high earners would need to contribute more to help stabilize France’s finances. He made it clear that there would be no income tax hikes for low-income individuals, wage earners, or the middle class.
“I am not going to increase the tax burden for all French people further; they already pay the highest taxes among all EU partners,” Barnier noted, indicating a focused approach to ensure that the financial responsibilities are shared more equitably among different income groups.
