Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag France's billionaire tax proposal faces pushback from LVMH's Arnault, despite public support and economic backing.

flag Bernard Arnault, France’s richest person and head of LVMH, has fiercely opposed a proposed 2% annual tax on billionaires with fortunes over €100 million, calling it an ideological threat to the economy. flag The tax, backed by economist Gabriel Zucman and the Socialist Party, aims to address tax inequities and raise €20 billion yearly, with 86% of French citizens supporting it in a recent poll. flag Zucman, a professor at École Normale Supérieure and UC Berkeley, denies being politically driven, stating his proposal is research-based and supported by numerous economists. flag Despite business leaders' resistance, the measure has gained traction ahead of the 2026 budget, with left-wing parties making it a condition for supporting Prime Minister Sébastien Lecornu’s government.

57 Articles