What a ‘Zucman tax’ might mean for France

Tensions surrounding public finances, the vote on the next budget and the nomination of a new government have put France in a state of political turmoil. The nominated prime minister, Sebastien Lecornu, is taking his time to form a government as he seeks to find an outcome that satisfies all political formations and the population simultaneously. France’s budget deficit rose to 5.8 percent of gross domestic product in 2024, standing at €169 billion ($198 billion), while the EU requires it to return to below 3 percent within four to seven years.