New French far-left government proposes 90% tax on high earners

The New Popular Front promises radical tax reforms and social spending as political uncertainty looms.

New French far-left government proposes 90% tax on high earners
AP Photo/Louise Delmotte
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The New Popular Front (NPF), a coalition of left-wing parties, has emerged as the largest bloc in France's parliamentary elections, securing 182 seats and surpassing President Emmanuel Macron's centrist Ensemble party, which won 168 seats.

The unexpected result has thrown the country into political uncertainty, with the right-wing National Rally led by Marine Le Pen trailing behind with 143 seats, reports the Daily Mail.

The NPF, a hastily formed alliance of socialists, ecologists, communists, and the radical France Unbowed party, is now poised for a potential power struggle with President Macron over the selection of the next Prime Minister. Manuel Bompard, coordinator of France Unbowed, stated, "We are preparing to govern, to apply the programme which is ours."

The coalition's ambitious agenda includes a controversial 90% tax rate on annual incomes exceeding €400,000, lowering the retirement age from 64 to 60, implementing price controls on essential goods, and increasing the minimum wage by 14%. The NPF also plans to commit at least €150 billion in additional spending over three years.

President Macron, whose party fell short of a majority, is now faced with the challenge of forming a workable government. His supporters suggest the possibility of a "rainbow" coalition, bringing together centrist MPs with moderate left-wingers and center-right Republicans. However, the path forward remains unclear, with Sylvain Maillard, an MP from Macron's group, admitting that finding a coalition could take "several weeks."

The election results have sparked tensions, with demonstrations erupting in Paris following the announcement.

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