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French left-wing coalition calls for 90% tax on rich

The New Popular Front is pushing for a prime minister who will implement its ambitious agenda, including a wealth tax and price controls.

by  Miri Weissman
Published on  07-10-2024 09:00
Last modified: 07-28-2024 12:58
French left-wing coalition calls for 90% tax on rich

Photo: AFP/Francois Walschaerts

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France's political landscape has been thrown into turmoil following a snap election that saw the left-wing New Popular Front (NPF) coalition emerge as the largest group in parliament, though short of an outright majority. The NPF is now pushing for a prime minister who will implement its ambitious agenda, including a wealth tax and price controls.

As reported by Sky News, the leftist alliance secured the most seats in the recent French elections but fell short of the 289 needed for a majority in the National Assembly, France's lower house of parliament. President Emmanuel Macron's Together bloc came in second, while Marine Le Pen's far-right National Rally (RN) party finished third.

Manuel Bompard, from the hard-left France Unbowed party, which is part of the NPF, said: "The president must appoint as prime minister someone from the New Popular Front to implement the NFP's programme, the whole programme and nothing but the programme." Jean-Luc Melenchon, leader of France Unbowed, has been a central figure in the NPF's rise. Some observers have dubbed him "France's Jeremy Corbyn" due to his left-wing stance.

France-"We're introducing 90% tax on the rich"

The Rich-🇫🇷✈️🇸🇬

France-"Why is our productivity plummeting?" pic.twitter.com/KJNVjER7mY

— 🇯🇵 Colonel Otaku Gatekeeper 🇯🇵 (@politicalawake) July 9, 2024

The NPF's proposed policies include raising the minimum wage, implementing price controls on essential goods and utilities, lowering the retirement age to 60, and introducing a new 90% tax on annual incomes above €400,000 ($435,590 USD). The coalition also plans to make heavy investments in green transition and public services.

As parties jockey for position in the aftermath of the election, it remains unclear how the political landscape will settle. The NPF could potentially reach a deal with other parties to form a majority, or more moderate elements of the coalition might splinter off to align with centrists.

President Macron, who called the snap election in an attempt to counter the rise of the far-right, may seek a deal with moderate elements of the NPF. He has ruled out working with Melenchon's France Unbowed party but could potentially collaborate with other NPF members, such as the Socialists and the Greens.

In what some see as a gesture toward the left, Macron's government recently suspended a decree that would have reduced workers' rights to unemployment benefits. This move has been interpreted as a potential olive branch to left-wing parties.

Tags: French electionsNew Popular Front

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