French PM Weighs Taxing Wealthy and Large Firms to Tackle Debt
- New French government threatened by no-confidence votes
- France must preserve credibility on bond markets, Barnier says
Michel Barnier
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
Prime Minister Michel Barnier opened the door to taxing wealthy individuals and large companies in a bid to repair France’s massive budget deficit and reassure international investors.
The new premier said in an interview on France 2 television Sunday that he wanted to avoid raising taxes on the middle class and workers, but emphasized that there needed to be a collective effort to cut spending and to turn around France’s “grave” debt situation.