Climate: the report presented to the government recommends raising taxes for the richest to finance the energy transition

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The executive released a report on Monday May 22 to call for the country to reduce its greenhouse gas emissions faster. Among the ways foreseen to finance the tens of billions of euros of investments necessary for this plan, there is an exceptional taxation of the richest French people.

The plan released on Monday May 22 by the executive to reduce the country’s greenhouse gas emissions more rapidly remains unclear on the issue of its financing. This plan is based on the report of the evaluation mission entrusted to Jean Pisani-Ferry and foresees a “reorientation of technical progress”, energy sobriety and costly decarbonisation which require “an increase in mandatory levies”. It is in fact several tens of billions of euros of investments.

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“An exceptional and temporary withdrawal”

To finance the latter, the authors of the report propose various ways. Starting with the “reassignment of expenses and tax burdens” unfavorable to the environment, such as “tax exemptions on fuel for some professions”.

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Debt is another solution: “We can convince the financial rating agencies and the markets that this debt is legitimate,” believes Jean Pisani-Ferry, in Publication. However, “bet everything on debt wouldn’t be wise,” she says. And to “show that everyone is participating in the effort, an increase in compulsory levies will probably be necessary (…) It could notably take the form of an exceptional and temporary levy, based on the financial assets of the most vulnerable households . rich”, says the relationship. Jean Pisani-Ferry assures that it would not be a matter of “a reinstatement of the wealth or capital tax”. According to him, the proposal would apply to the richest 10% of the French.

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