Sébastien Lecornu Postpones Zucman Tax Debate to Next Presidential Election Amid Budget 2026 Negotiations

French Prime Minister Sébastien Lecornu acknowledged the political uncertainties surrounding the ongoing 2026 state budget negotiations and indicated that the contentious debate on the Zucman tax on high wealth would be deferred until the next presidential election. In an interview with Le Parisien, Lecornu described his approach as a “strategy of small steps” to navigate the volatile parliamentary environment, marked by the risk of a censure vote from the opposition and a lack of an absolute majority.

Lecornu emphasized that the second reading of the budget in the National Assembly, scheduled after a pause for discussions on the Social Security budget on November 4, would be a critical moment. Despite some rejected measures in committee, he predicted a budget filled with controversy but insisted he had not reached any sweeping agreements with the Socialist party, despite their mid-October support for his government. He criticized some Socialist deputies for their failure to maintain progress.

Among the measures Lecornu signaled support for were pension reindexation and an increase in the solidarity tax on wealth (CSG sur la fortune). However, the broader debate on the Zucman tax, a proposal targeting very high-net-worth individuals, remains set aside for now, underscoring a postponement of this tax policy discussion until after the upcoming presidential election cycle.