France’s Socialists demand a wealth tax on the ultra-rich or face a no-confidence vote against Prime Minister Lecornu’s government.

France's Socialist Party threatens to trigger a no-confidence vote against Prime Minister Sébastien Lecornu’s government by Monday unless a tax on ultra-wealthy individuals—defined as those with at least €100 million in assets—is included in the 2026 budget. The proposed "Zucman tax" could raise €20 billion annually, but Lecornu has refused to adopt it, favoring a smaller levy on wealth management holdings over €5 million, expected to generate €1 billion. The standoff stems from political fragmentation after last year’s snap elections, leaving the government reliant on fragile coalition support. A parliamentary commission previously rejected the budget, and a full debate looms, with no consensus in sight.