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France: constitutional court rejects 75 per cent tax rate


France

France: constitutional court rejects 75 per cent tax rate

The French Supreme Court has rejected the government’s controversial plans to tax top earners on 75 per cent of their income.

The measure, one of the flagship proposals of President Hollande and Prime Minister Jean-Marc Ayrault, appears in next year’s finance bill.

In parliament members of the centre-right opposition UMP party had seized the constitutional court over the matter.

The judges said the plans contravened the principle of equality.

The high tax rate, on earnings over one million euros, has been much criticised – prompting among others, actor Gerard Depardieu to announce he was moving to Belgium.

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