Big business super-profits will not be overtaxed

The super-profits of big business, which have benefited from the crisis, will not be overtaxed. The Senate decided on Monday August 1. The ballot was tight, with 155 votes in favor and 177 against. The taxation was defeated thanks to the support of the Republicans. For Bruno Le Maire, the Minister of the Economy, it is necessary to reassure investors who often criticize France for its level of levy. “When we are the most taxed country of all European countries, we do not add an additional tax“, he asserted.

However, this idea was strongly defended by the left, which wanted to tax the windfall profits of large companies, such as Total Energies. The left proposed a 25% levy on the profits of large groups. The centrists also wanted to tax superprofits, taking as examples the United Kingdom, Spain and Italy which have already taken the plunge.