French Socialist Party’s Faure Says He Will Propose Zucman Wealth Tax

France’s Socialist Party plans to consider introducing the so-called Zucman wealth tax as part of its effort to raise revenue by taxing the country’s richest citizens, party leader Olivier Faure said on Wednesday in an interview with BFM TV.

When asked by BFM TV whether the Socialists would implement the Zucman tax, Faure replied, “Absolutely.”

The proposed tax — named after French economist Gabriel Zucman — would impose a 2% levy on the wealthiest 0.01% of France’s population.