• Text size      
  • Send this article to a friend
  • Print this article

Setback for tax on millionaires

FRANCE'S Constitutional Council has rejected a 75% upper income-tax rate to be introduced in 2013.

The Council ruled that the planned 75% tax on annual income above one million euros was unfair in the way it would be applied to different households.

The move is a setback for Socialist President Francois Hollande's push to make the rich contribute more to cutting the public deficit.

Prime Minister Jean-Marc Ayrault said the government would redraft the tax-rate proposal to answer the Council's concerns, and resubmit it in a new budget law.

Contextual targeting label: 
Local government

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

133041