7°c Partly cloudy
19°c Variable cloudiness
The Canadian Press - ONLINE EDITION
French panel overturns 75 per cent tax on ultrarich, saying it's unfair
PARIS - Embattled French President Francois Hollande suffered a fresh setback Saturday when France's highest court threw out a plan to tax the ultrawealthy at a 75 per cent rate, saying it was unfair.
In a stinging rebuke to one of Socialist Hollande's flagship campaign promises, the constitutional council ruled Saturday that the way the highly contentious tax was designed was unconstitutional. It was intended to hit incomes over €1 million ($1.32 million).
The largely symbolic measure would have only hit a tiny number of taxpayers and brought in an estimated €100 million to €300 million - an insignificant amount in the context of France's roughtly €85 billion deficit.
Prime Minister Jean-Marc Ayrault was quick to respond, saying in a statement following the decision the government would resubmit the measure to take the court's concerns into account. The court's ruling took issue not with the size of the tax, but with the way it discriminated between households depending on how incomes were distributed among its members. A household with two earners each making under €1 million would be exempt from the tax, while one with one earner making €1.2 million would have to pay.
The French government approved the tax in its most recent budget, amid criticism by some that it would do little to stem the country's mounting fiscal problems and would drive away the wealthiest citizens. Hollande's popularity, meanwhile, has been tanking as the country's unemployment continued its rise for the 19th straight month.
In recent weeks, Gerard Depardieu — France's most famous actor — announced his intention to turn in his French passport and move to a village in a tax-friendly Belgium.
More Latest News
- Back to Top
- Return to Latest News
More Latest News
(1 of 5 articles for today)
Quick shuts out Sharks again, and LA Kings surge ahead in series with gritty 3-0 win in Game 5
12:41 AM 0
Poll
Most Popular Latest News
- Chiropractor guilty of sexually assaulting, beating ex-girlfriend
- 2 dead in crash near Portage la Prairie
- Flood money paid for CEO's romantic trip
- Crash claims two young women, RCMP say
- Woman run over three times by her own car
- Some good news, some bad news from weatherman
- Vendor fired at Houston's Minute Maid Park after taking tray of snow cones into bathroom
- Man dies after being pulled from vehicle submerged in Winnipeg retention pond
- Charges laid against three in Canada Revenue Agency fraud investigation
- Drug dealer sentenced to 3½ years in prison
- Man dies after being pulled from vehicle submerged in Winnipeg retention pond
- 87-year-old woman tells jurors, 'Somebody had to stand up to' Donald Trump
- Aboriginal leader Elijah Harper dies
- Horrific crash kills minivan driver near Brandon
- Chiropractor guilty of sexually assaulting, beating ex-girlfriend
- Charleswood deaths being investigated as domestic incident
- Woman killed in head-on crash in southwestern Manitoba
- Winnipeg woman camps out in front of legislature to protest child welfare
- 2 dead in crash near Portage la Prairie
- Grocer Joe Cantor dies at 88
- Seattle man dribbling soccer ball to Brazil killed by car on Oregon Coast
- Man dies after being pulled from vehicle submerged in Winnipeg retention pond
- 87-year-old woman tells jurors, 'Somebody had to stand up to' Donald Trump
- Driver crashes into tree near golf course
- Arrests made after raids on local head shops
- Aboriginal leader Elijah Harper dies
- News of city's $17-million winner leaks out on FB
- Passengers from diverted flight to leave Winnipeg Thursday night
- No threat from bag found at Winnipeg Square
- Susan Griffiths dies in Switzerland
- Chiropractor guilty of sexually assaulting, beating ex-girlfriend
- Youths in Stockholm burn down restaurant, torch more than 30 cars in 4th night of rioting
- Landslide of love for Fleetwood Mac
- Horrific crash kills minivan driver near Brandon
- Grocer Joe Cantor dies at 88
- 2 dead in crash near Portage la Prairie
- Vendor fired at Houston's Minute Maid Park after taking tray of snow cones into bathroom
- Quicker pickup of bulk garbage urged
- Privacy commissioner wants power to impose 8-figure fines against offenders
- Winnipeg Harvest issues plea for donations
- New owner for lumber stores
- Aboriginal leader Elijah Harper dies
- Grocer Joe Cantor dies at 88
- Chiropractor guilty of sexually assaulting, beating ex-girlfriend
- Horrific crash kills minivan driver near Brandon
- Marsh Madness: Photographers Fred Greenslade and Joe Bryksa capture spring migration's grandeur at Delta Marsh
- Prominent Canadians back petition to rename Victoria Day to honour aboriginals
- Famous city grocer loved job, customers
- Animals are animals, new ads say
- Skin picking gets status as distinct disorder, should help sufferers access help
- New owner for lumber stores
- Aboriginal leader Elijah Harper dies
- Dogs can experience separation anxiety and depression just like humans
- Ontario steps in to help save ELA
- Saskatchewan professor wants to test the health benefits of nose-picking
- 'Revenge of the redheads': Ginger-haired Montrealers gather in celebration
- Grocer Joe Cantor dies at 88
- Chiropractor guilty of sexually assaulting, beating ex-girlfriend
- An uncommon phenomenon
- Passengers from diverted flight to leave Winnipeg Thursday night
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.