French PM Proposes New Tax on Financial Wealth

French Prime Minister Sebastien Lecornu has suggested implementing a tax on financial wealth, excluding business owners' assets, as an effort to resolve the budget deadlock. This proposal was discussed with Socialist lawmakers, as reported by sources familiar with the discussions.

In a move aimed at resolving France's ongoing budget dilemma, Prime Minister Sebastien Lecornu has put forth a proposal to establish a tax on financial wealth, excluding assets held by business owners. This initiative was part of discussions with Socialist lawmakers, two sources close to Lecornu revealed.

The sources, requesting anonymity, have confirmed an earlier report by Le Parisien on the proposed financial wealth tax. The discussions are seen as a strategic effort by the French government to garner support from various political factions.

However, additional details regarding the tax proposal were not immediately available. The government's aim appears to be a balanced approach to taxation while ensuring the exclusion of business owners' assets to encourage economic growth and stability.

(With inputs from agencies.)