October 11, 2024

350.org reacts to French government’s 2025 budget proposal

“This measure is a fiscal trompe-l’oeil that betrays the expectations of 80% of French people”

More than a week later than required by the Constitution, Michel Barnier’s government has just submitted its proposal for the 2025 budget. Forced by the catastrophic state of public finances, the government is proposing to impose an exceptional tax on the highest earners – but it is an illusion. Here is 350.org’s reaction:

Fanny Petitbon, France Manager for 350.org, comments: 

Purely symbolic and temporary, this measure is a fiscal trompe-l’oeil that betrays the expectations of 80% of French people. Far from establishing genuine tax justice, it spares the ultra-rich, who are masters in the art of hiding their wealth in holding companies or real estate. The estimated yield of €2 billion a year is derisory compared with the nearly €14 billion that an additional tax of 2% on the wealth of French billionaires could generate.

Worse still, the government is attacking the most vulnerable by abolishing the automatic allocation of energy cheques, cynically hoping that some of those eligible will not take the necessary steps to obtain them, thereby making savings on their backs. In addition, Michel Barnier is slashing the ecological transition efforts of local and regional authorities by cutting the Green Fund by 60%.

Just over a year ago France hosted an international summit to shake up decision-makers and unlock the overdue finance needed to support the countries most vulnerable to climate change – now the government is doing an about-turn by proposing drastic cuts in official development assistance. Barnier’s government is choosing austerity over investment in the future. Parliamentarians will have a decisive role to play over the coming weeks to ensure genuinely ambitious fiscal measures are put in place that support the ecological transition and strengthen public services.’

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Editor’s note: 

On 30 September, 350.org launched a campaign to raise awareness among members of parliament of the urgent need to:

  • fund the ecological transition and public services through the introduction of tax measures such as a wealth tax on billionaires;
  • a green wealth tax;
  • taxation of the super-profits of fossil fuel companies and the abolition of tax loopholes benefiting the richest individuals and the most polluting companies.

See the press release and the video.

Media contact: Mark Raven, [email protected], +447841474125

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