No change to wealth tax

Prime Minister François Fillon has dismissed talk of reforming wealth tax after changes were hinted at by finance minister Christine Lagarde.

In an interview over the weekend in La Tribune Ms Lagard suggested that France’s level of taxation of personal assets was well above the EU average.

She added that as the government looked to increase the level of taxation on capital gains, which was below the EU average, it may also look to reform the l'Imposition de solidarité sur la fortune ISF wealth tax.

Mr Fillon denied there were any plans to reform the ISF saying it was not ‘the order of the day’.

He said the government’s bouclier fiscal which capped all personal taxation at 50% of income was in itself a successful reform of the wealth tax.

Photo:AFP/Fred Dufour