Today's Edition
PARIS (REUTERS)
Bernard Arnault, the boss of luxury goods group LVMH and France's richest man, has attacked a proposed 2% tax on billionaires as an assault on France's economy.
The tax, which would target wealth above 100 million euros ($117 million), has gained political traction in France, where Prime Minister Sébastien Lecornu faces pressure from the Socialist Party to include it in the 2026 budget or face a confidence vote that could topple his government.
"This is clearly not a technical or economic debate, but rather a clearly stated desire to destroy the French economy," Arnault told Britain's Sunday Times.
He has recently argued in media appearances that the ultra-rich pay proportionally less tax than many other citizens - a gap the proposed levy aims to close.
The tax has broad public support, with an Ifop polled commissioned by the Socialist Party this month showing 86% approval.
