French PM pushes for rich tax hikes amid budget crisis

Speaking of a “national effort” for the country to get back on its own feet, in terms of its public-sector deficit, French Prime Minister Michel Barnier said there are no blanket tax increases. Indeed, during his Sunday interview, he admitted the gravity of France’s financial plight as he ruled out blanket tax increases.

I am not going to further increase the tax burden for all French people already pay the highest taxes among all EU partners,” he said. The former head of the European Commission’s internal market unit said in comments to France 2 that high earners would have to “do their bit” to improve the nation’s finances, but there would be no income-tax hikes for low-income earners, wage earners, or the middle class.

His trial will be a budget plan for 2025 prior to presenting it that will address the fiscal challenges France faces. France is under formal procedure over its breaches of European Union budgetary rules.