Taxing the richest "makes sense if it is global," says Macron

In February, French MPs adopted the so-called "Zucman" tax, a minimum tax on the wealth of the ultra-rich, inspired by the work of French economist Gabriel Zucman, despite opposition from the government coalition.

Its examination in the Senate will take place in June, but its potential adoption is rather compromised due to the forces present within this chamber.

"The Zucman tax makes sense if it is global," the French president said Tuesday during a TF1 broadcast, recalling France's efforts within the G20, led by Brazil, to try to impose a coordinated tax on billionaires across the globe.

"That's why I fought with President Lula at the time, President Biden, to bring it to the OECD level," said Mr. Macron, deeming it illusory to impose such a tax only within French borders.

"Do you think that if France alone imposes a tax on assets worth more than 100 million euros, people will kindly stay and be taxed?" the president asked during a debate with CGT general secretary Sophie Binet.

To the answer of "yes" from his interlocutor, the president replied: "Introduce them to me, sincerely introduce them to me."

Having failed to agree on a joint tax on billionaires, the G20 member countries agreed in November to cooperate more in order to "effectively" tax the world's largest fortunes.