Macron Under Pressure to Tax ‘Superprofits’ of Big Energy Firms
- Left-wing parties want France to introduce a 25% windfall tax
- Proposal comes amid debate over ‘purchasing power’ plan
Emmanuel Macron
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
French President Emmanuel Macron is under increasing pressure to introduce a windfall tax on oil, gas and transport giants to fund his bill aimed at protecting consumers’ purchasing power.
The left-wing alliance that represents the second-biggest group of parties in the National Assembly on Tuesday proposed a temporary 25% tax on what it calls the “superprofits” of companies such as TotalEnergies SE, Engie SA and shipping company CMA-CGM, in a press conference in Paris.