World News

Reimposing French 'ISF' wealth tax would be bad idea: Le Maire

FILE PHOTO: French Economy and Finance Minister Bruno Le Maire speaks during a presentation of the details for the end of the country's lockdown imposed to curb the spread of the coronavirus disease (COVID-19), at the Hotel Matignon in Paris, France May 7, 2020. Christophe Archambault/Pool via REUTERS

PARIS (Reuters) - Reintroducing a tax on France’s wealthiest citizens to help finance measures to support the economy in the wake of the coronavirus crisis would not be a good idea, French Finance Minister Bruno Le Maire said on Monday.

“A return to the ISF is not a good solution,” Le Maire told France Info radio, referring to the ISF wealth tax, aspects of which have been eased by President Emmanuel Macron to encourage wealthy French citizens to remain in France.

Reporting by Sudip Kar-Gupta; Editing by Catherine Evans