-
Do you agree? Flawed trickle-down economics at odds with French values
Columnist Nick Inman digs into why many French people are sceptical that tax breaks for the wealthy will benefit society
-
Go west: why the wealthy shun the east of town in France
Learn the historical and industrial factors behind the geographic divide between the rich and poor in French towns
-
$193bn: how did this French businessman get so rich?
Bernard Arnault frequently beats Elon Musk to ‘world’s richest man’ title, we look at his complex relationship with France and what he owns
How much must you earn to be officially rich in France?
And at what level of income are you considered to be poor
The levels of monthly revenue at which people in France are considered to be either rich or poor is calculated each year by an independent watchdog.
The Paris-based French Economic Observatory, or l’Observatoire français des conjonctures économiques (OFCE) is a publicly-funded advisory body with a remit of guiding public policy.
It calculates the post-tax monthly revenues at which people are considered to be either rich or poor.
This year, individuals are considered to be rich if they earn more than €3,860 (€46,320 per annum) and poor if they earn less than €965 per month (€11,580 per annum) for all of their revenue from real-estate, wages, social security benefits and financial holdings. These sums are after income tax and social charge deductions.
Read more: $193bn: how did this French businessman get so rich?
“These levels are found by dividing the population into two equal halves: the 50% of individuals who have a level below the median and the 50% who are above it. The median is in the middle of these revenue thresholds,” OFCE director Louis Maurin told Le Figaro.
The median revenue is taken as €1,930 (€23,160 per annum) in 2024.
“Since we consider the poverty threshold as half of the median revenue, we have consider people who earn twice the median level to be rich,” said Mr Maurin.
“However, as a precaution we have chosen not to correlate the wealth threshold against the cost of housing, as we have no means of knowing if this is imposed or a choice.”
The French government uses a slightly higher threshold as the poverty line, placing it at 60% of the median revenue, or €1,158 (€13,896 per annum).
According to the government statistics bureau Insee, 8.3% of people were below the 50% poverty line and 14.5% below the 60% poverty line in 2021.
Data from that year places between 7% and 8% of the population in the wealthy category, with revenue more than 50% higher than the median.
Read more
Talking point: Is France really a meritocracy?
Map: Where in France do people give most to charities?
Do you agree? Flawed trickle-down economics at odds with French values
