FRANCE MACRON – France could change position over wealth tax

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The French government could change its position regarding a wealth tax, said government spokesman Benjamin Griveaux, as protests mount over President Emmanuel Macron’s policies.

The government has changed aspects of the wealth tax – known in France as the ‘ISF’ – by narrowing it down to lucrative property deals and real estate assets.

However, that move had led to criticism that Macron was a “President of the Rich”, since it would have eased the tax burden for many of the country’s wealthiest citizens.

On Wednesday, Griveaux told RTL radio the government could re-consider those proposals if it felt the move was not working.

Earlier this week, French Prime Minister Edouard Philippe decided to suspend planned increases to fuel taxes for at least six months in response to weeks of sometimes violent protests, marking the first major U-turn by Macron’s administration in 18 months in office.

Protesters were maintaining their roadblocks around France, however, saying the measures were a drop in the ocean and would do little to improve their purchasing power.

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