The left-wing French coalition hoping to introduce 90% tax on rich
SUMMARY
Following France's snap election, the radical left-wing New Popular Front (NPF) coalition, led by Jean-Luc Mélenchon, secured the most seats in the National Assembly but fell short of the 289 needed for a majority. The NPF is advocating for a 90% tax on annual incomes over €400,000, price controls on essential items like food, electricity, gas, and petrol, raising the minimum wage, and lowering the retirement age to 60. They also propose significant investment in green transition and public services. The NPF insists on appointing a prime minister from its ranks to implement their comprehensive program. It is unclear if the NPF can form a majority coalition or if moderate members might splinter off to align with centrists.
