The governor of the Banking of France said on Monday favorable to the “anti-optimization measures of high inheritance taxes” in the 2026 budget, in the context of the French economy despite the impact of political uncertainty.
In an interview with the newspaper Le Parisien, François Villeroy de Galhau insisted on the need to urgently solve the French budget problem “aggravated” by the political crisis, to bring the public deficit to 3% of the Bromedero domestic product (GDP) in 2029.
“There is never a painless tax”
“The truth is that there is never a painless tax or a magical tax that would bring a lot in France when it does not apply to our competitors,” he said, he questioned about the so -called Zucman Tax (appointed economist Gabriel Zucman)
For François Villeroy of Galhau, fiscal measures must forgive classes and SMEs, and only last until the deficit is returned below 3% of GDP.
“To cite an example, fiscal anti-optimization measures in senior heritage would be justified” so that the recovery effort is “to feel correct,” he explained. He believes that the budget canvas presented in July by former Prime Minister François Bayrou “can be improved.”
The Bank of France improves its 0.7% growth forecast
With respect to French economic growth, it continues to resist, although it slowed compared to 2024 (+1.1%). Therefore, the banker of France indicated its growth forecast on Monday at 0.7% by 2025 on Monday, compared to 0.6% before, and said they expected a strengthening of the activity in 2026 and 2027, however, it was broken by uncertainty.
During the next two years, growth has been reviewed 0.1 points to 0.9% and 1.1% respectively, in particular due to the “most uncertain national context”, a potential waiting source, and see between homes and companies, the institution stressed when updating its macroeconomic forecasts.
To this national instability is added a potentially more unfavorable international environment, with an increase in the euro that penalizes European competitiveness, lower external demand and a higher price of oil.
Source: BFM TV
