Paris, France. Today, the French Senate failed to pass the proposed Zucman Tax — a minimum tax on large fortunes that could have raised up to €25 billion annually by taxing the ultra-wealthy. This is despite the demand from a large proportion of the population for greater tax justice, and despite the need to generate revenue and reduce inequalities. As civil society organisations fighting for climate, social and tax justice, 350.org, Attac France and Oxfam France condemn the vote as a failure of political courage in the face of urgent social and ecological crises.
The Zucman Tax would have applied to individuals with over €100 million in assets — impacting only the wealthiest few, while generating tens of billions to reinvest in collapsing public services, accelerate the ecological transition, and increase international solidarity. Renowned economists, elected officials and civil society representatives have backed the policy as both just and economically sound.
Fanny Petitbon, France Team Lead for 350.org said:
“While millions struggle with rising costs and failing public systems, the ultra-rich continue to amass wealth without paying what they owe. French Senators had the opportunity to take a bold step toward justice — and they chose once more to protect privilege instead. This comes as climate impacts intensify across the country — from deadly heatwaves to devastating floods — hitting ordinary people hardest. We may have lost this battle but we remain unwavering in our fight for climate, social and tax justice — alongside the tens of thousands of people who helped bring this demand to the doors of power.”
Vincent Drezet, Spokesperson for Attac France said:
“Opponents of the minimum wealth tax have once again used and abused the same arguments as those used by opponents of the former ISF and, in historical perspective, by conservatives who opposed the creation of progressive taxes. Happy to maintain the tax privileges of the few, the opponents of this project will tomorrow call for a policy of tax austerity that will penalize the whole population, and show their true colours: conservative and neoliberal with a libertarian streak. Fighting tax injustice and looming austerity is a matter of the utmost urgency: that means getting the Zucman tax adopted in the 2026 Budget Bill.”
Layla Abdelké Yakoub, “Tax Justice and Inequality” Head of advocacy for Oxfam France, said:
“The introduction of a minimum tax on ultra-wealthy individuals is a matter of common sense. It seeks to end a scandalous situation: the richest pay so little tax in France relative to their wealth that the tax system has become regressive. It is unacceptable that senators failed to agree on ending this fiscal injustice. But public support remains strong — and we will not stop until this measure becomes law and tax justice finally prevails.”
Momentum for taxing extreme wealth is growing — not only in France, but around the world.
In the months ahead, 350.org, Attac France and Oxfam France will continue to push for real tax justice through a series of coordinated actions. These include the launch of Oxfam France’s Tax justice manifesto, the global Draw the Line mobilisation in September — co-organised by 350 and partners — to demand climate action rooted in justice, campaigning and awareness raising around the 2026 Budget Bill and national elections, and a major tax justice summit in early October led by Attac France.
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Notes to editor: This morning, 350.org, Attac France, and Oxfam France organized a symbolic action just steps away from the Senate. Using large puppets representing Bernard Arnault and Vincent Bolloré, along with activists dressed up as ultra-wealthy individuals calling to be taxed, we urged senators to make the right choice to fund public services and the ecological transition. The + 60 000 signatures to the open letter were handed over to a few Senators from different political groups present at the action.
Photos and video from the action available here
Media Contacts
350.org: Mark Raven, +44 7841474125, [email protected]
Attac France: Vincent Drezet, spokesperson, +33 (0) 681983126
Attac France: Louis Fayolle, communication and media relations, +33 (0) 675448162, [email protected],
Oxfam France: Stanislas Hannoun, +33 (0)7 69 17 49 63, [email protected]