Bernard Arnault did not like the condition of the socialists to let another minister of Emmanuel Macron pass
“Insane” and “Communist”. This is how the richest people in France are looking at the pressure that the Socialist Party is making about the new Prime Minister, who has entered embers in a country in a policy.
Knowing that their votes are essential for Sébastien Leconnu’s survival, socialists are increasing their demands so that it does not happen what happened to the other two prime ministers, which lasted a little more than a few months in office, leaving Emmanuel Macron with a big headache.
What the left wants is that the much needed survival of French public accounts will also be made at the expense of the richest. In particular, people with fortunes evaluated at over 100 million euros pay a minimum annual rate of 2% on all their goods, including companies or business stocks.
Bernard Arnault, owner of the luxury conglomerate LVMH, is one of the most angry with the current situation, as the socialist proposal will have a special impact on the fortune of the one who is, according to Bloomberg’s index, the eighth richest person in the world, with a fortune evaluated at 143 billion euros.
“I can’t believe that the French political forces that govern or govern the country can give some credibility to this offensive, which is deadly to our economy,” he said in a statement.
To get an idea, the proposal of the socialists hits Bernard Arnault in about 3 billion euros, apart from the taxes that the owner of companies such as Louis Vuitton or Möet Chandon has to pay.
Speaking to the ledger co-founder, who negotiates in the area of cryptocurrencies, nicknamed “collectivism” or “communism” what socialists want to do in a “fundamental attack on freedom and property rights”.
Éric Larchevêque is not even close to Bernard Arnault, but has the business valued at 1.3 billion euros, so he will not pass along a proposal of this kind, even if his company is still generating profit.
If the proposal right forwards, this will mark a reverse of Emmanuel Macron’s economic policy, which has chosen to lower taxes on companies, promising to make France in a “start-up nation”.
This type of actions led opposition to name him “president of the rich”, but the French head of state does not intend to retreat, opposing taxes of this genre. As for the Zucman tax – so appointed because of economist Gabriel Zucman, who originally presented the idea – Emmanuel Macron to look at him as something aberrant, according to a Source of the Financial Times.
With an impasse in front of him, Sébastien Leconnu admits openness to discuss “tax justice and burden sharing”, even though he has warned that all “professional goods” with “care” should be managed.
On the Zucman Tax side, which Bernard Arnault has already classified as an “far left activist”, who defends him says he will allow € 15 billion per year to collect, which will greatly help the heavy French deficit, which can reach 5.4% of GDP at the end of this year, becoming one of the largest of the Europe.
Remember that the previous Prime Minister, François Bayrou, eventually came out after presenting a state budget proposal that provided for cuts at 44 billion euros.
Gabriel Zucman himself decided to respond to Bernard Arnault after being accused of not having foundations for his ideas. “Coming from one of the richest men in the world and in a context where academic freedom has been questioned in a growing number of countries, this rhetoric … It should worry us all,” the economist wrote on social network X, where he said it was “time to tax billionaires at a minimal rate.”
On the other hand, more than thinking of cases such as Bernard Arnault, we need to see situations such as those of Éric Larchevêque, which does not yet generate profit, but can be forced to pay a tax based on the value of your company.
