Medef president Patrick Martin said on Monday that his movement was “ready to discuss” an increase in corporate taxes, but under conditions.
“We are ready to discuss an increase in corporate taxes on two conditions,” Patrick Martin told Le Parisien, while Prime Minister Michel Barnier spoke on Sunday of “specific taxes on the rich or on certain large companies” to help restore public finances.
Michel Barnier also refused to rule out an increase in corporate tax, which was lowered from 33% to 25% by Emmanuel Macron.
“We are in a constructive attitude”
Patrick Martin detailed his “conditions”: “Firstly, if we have proof that, with regard to excess public spending, the State is making much greater efforts than those it is asking of companies. Secondly, that “The required effort does not stop the dynamics of investment and job creation in a very fragile economic situation.”
“We have a constructive attitude towards this government,” said Patrick Martin, “because we are aware that the situation of public finances is very serious and the political equation fragile.” However, he said that “French companies bear the highest level of taxes and compulsory social security contributions in the world, 364 billion euros per year.”
He also pointed out that “there are already many taxes that affect large companies more,” and that “we should not push the issue too far.”
Patrick Martin said that “we can talk” about taxing share buybacks, as the previous government had planned, but that it would be better to “encourage profitable investments”. He also mentioned the risk of “scaring away” foreign investors with this measure.
Source: BFM TV
