{"id":123624,"date":"2025-09-08T20:58:09","date_gmt":"2025-09-08T20:58:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/123624\/"},"modified":"2025-09-08T20:58:09","modified_gmt":"2025-09-08T20:58:09","slug":"french-premier-warns-against-overtaxing-rich-like-lvmhs-arnault","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/123624\/","title":{"rendered":"French premier warns against overtaxing rich like LVMH\u2019s Arnault"},"content":{"rendered":"

\n By
\n
Bloomberg\n <\/p>\n

\n Published
\n <\/p>\n

September 8, 2025<\/p>\n

\n Imposing heavy taxes on the rich won\u2019t extricate France from its budget morass and would only push them to leave the country, according to French Prime Minister Francois Bayrou.<\/p>\n

See catwalk<\/a>\"LouisLouis Vuitton – Spring-Summer2026 – Menswear – France – Paris – \u00a9Launchmetrics\/spotlight<\/p>\n

The premier, speaking in the National Assembly ahead of a confidence vote, was countering the call by some left-leaning parties to raise taxes on people like Bernard Arnault<\/a>, the billionaire CEO of luxury giant LVMH<\/a>, to close the country\u2019s budget gap.\u00a0<\/p>\n

\u201cBernard Arnault and his ilk have become the emblematic targets of magical thinking; they\u2019re like voodoo dolls with needles stuck in them to hurt them and, I imagine, hit them in the wallet,\u201d he said. \u201cThose who are targeted have a very simple and immediate response. They move.\u201d<\/p>\n

Arnault is Europe\u2019s richest person, ranking eighth on the Bloomberg Billionaires Index, with a net worth of $164 billion.<\/p>\n

The prime minister called the confidence motion last month in a bid to pressure lawmakers to back his plan to narrow France\u2019s 2026 budget deficit to 4.6% of economic output from an expected 5.4% this year. His proposal includes \u20ac44 billion ($51.6 billion) of spending cuts and tax hikes. The vote, expected later tonight, will likely lead to his government\u2019s collapse.\u00a0<\/p>\n

Bayrou cited Luxembourg, Belgium and the Netherlands as possible destinations for the rich or their businesses. He also brought up Italy, implying that wealthy people leaving the UK were moving there.\u00a0<\/p>\n

\u201cAsk our British neighbors, they decided to tax foreigners who were exempt from taxation,\u201d Bayrou said. \u201cThe immediate consequence was the explosion of real estate prices in Milan.\u201d<\/p>\n

\u00a0\n <\/p>\n","protected":false},"excerpt":{"rendered":"By Bloomberg Published September 8, 2025 Imposing heavy taxes on the rich won\u2019t extricate France from its budget…\n","protected":false},"author":2,"featured_media":123625,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[712,58775,709,59,57,58,35962,711,58740,710,50,713,56,54,55],"class_list":{"0":"post-123624","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-kingdom","8":"tag-beauty","9":"tag-bernard-arnault","10":"tag-fashion","11":"tag-gb","12":"tag-great-britain","13":"tag-greatbritain","14":"tag-louis-vuitton","15":"tag-luxury","16":"tag-lvmh","17":"tag-network","18":"tag-news","19":"tag-professionals","20":"tag-uk","21":"tag-united-kingdom","22":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/123624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=123624"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/123624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/123625"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=123624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=123624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=123624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}