Oct 1, 2012

France’s socialist budget experiment — revolution or ruin?

The French budget answers some questions and raises quite a few more, writes Alan Austin from France. Taxing the rich more is a big political achievement.

Mon Dieu! He has done it. The new Socialist President of France has fulfilled his pre-election promise to tax the rich at 75%.

Few believed he would. This was widely regarded as an ambit promise — or an “aspirational goal” in Australia — which he would not dare actually implement.

Free Trial

Proudly annoying those in power since 2000.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions


Leave a comment

One thought on “France’s socialist budget experiment — revolution or ruin?

  1. c k

    Wow. What a bad idea. He has guaranteed a further budget blowout there. Why would anyone pay tax in France now?

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details