Jul. 10 at 4:17 PM
Mon dieu
France's left wing New Popular Front (NPF) - now the largest group in parliament - has called for a PM who will implement its ideas including a new wealth tax & petrol price controls.
The leftist alliance secured the most seats in the recent French elections but fell short of the 289 needed for a majority in the National Assembly, France's lower house of parliament.
Shortly after it formed in June, the NPF outlined its ambitious economic programme & how it would fund it (but the math doesn't add up IMHO)
• raising the minimum wage
• price controls on essential foods, electricity, gas & petrol
• lowering the retirement age to 60
• a new 90% tax on any annual income above €400,000 (£337,954)
• heavy investment in green transition & public services
Note: Several economic & fiscal measures are either unconstitutional or against EU rules. In June, France was reprimanded by the EU for breaking fiscal rules before the election, after parties announced huge spending promises.
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