France's budget: Oxfam proposes tax on 'super

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Published: 2026-09-22T11:04:14.435Z • Permanent link

Oxfam has proposed a tax on 'super-rich' inheritances to help France raise billions of euros to fix its public finances. This bold move comes at a time when France is desperately seeking solutions to its economic woes. The country's president, Emmanuel Macron, has been under pressure to present a comprehensive plan to address the country's high debt levels and dwindling tax base. Oxfam's suggestion is based on the 'Dutreil pact', a 2017 agreement between France and the European Commission to reduce the country's deficit.

The proposal, which was announced by Oxfam International in a statement, would target the inheritances of the world's richest individuals. According to Oxfam, the richest 1% of the global population inherited more than $1 trillion in the past decade. By taxing these inheritances, France could generate significant revenue to fund its public finances. The proposal has been welcomed by some French citizens, who argue that it is a necessary step to address the country's economic crisis.

French Finance Minister Bruno Le Maire has been under pressure to present a comprehensive plan to address the country's economic woes. Le Maire has proposed a range of measures, including a carbon tax and increased spending on social programs. However, his proposals have been met with resistance from some sectors, including the automotive industry, which has threatened to take its business elsewhere if the proposed tax is implemented.

Oxfam's proposal has significant implications for the global economy. The country's tax authority, the Direction Générale des Finances Publiques (DGFiP), would need to establish a new framework for taxing inheritances. This would require significant changes to existing tax laws and regulations. The proposal also raises questions about the fairness and equity of taxing inheritances, which are often seen as a private matter.

The European Commission has also taken notice of Oxfam's proposal. In a statement, the Commission said that it would be monitoring the situation closely and considering its own proposals for addressing the country's economic woes. The Commission has already proposed a range of measures, including a carbon tax and increased spending on social programs. However, its proposals have been met with resistance from some member states, including Germany and the UK.

Oxfam's proposal is part of a larger pattern of calls for greater tax fairness and reduced inequality. In recent years, there have been growing concerns about the concentration of wealth and power among the world's richest individuals. Oxfam's proposal is seen by some as a necessary step to address these concerns and promote greater economic equality. However, others argue that it is an overreach of government power and a threat to individual freedom.