French Passion for Taxation Is Back at a Bad Time

The challenges facing new French Premier Michel Barnier make his previous job negotiating Brexit terms with Boris Johnson look easy. President Emmanuel Macron’s new No. 2 has to avert a budget crisis, navigate a gridlocked parliament and help the European Union close a yawning economic gap with the US. And now there’s talk of higher taxes just as economic growth starts to shrivel. It’s an ominous sign.

Barnier is off to a credible start. He told French television on Sunday the country’s financial situation was “serious,” spelling out the €50 billion ($55.6 billion) of annual interest payments due on €3 trillion of debt. He pledged not to make things worse, whether by saddling future generations with more financial burden or a more polluted planet. And he promised to take a hard look at how the developed world’s No. 1 government spender could be smarter and more efficient.