The reform of the ISF is a strong symbol of the Macron five-year term. However, despite a recent report, the better-off got richer.
Eliminate the wealth tax (ISF) in favor of the real estate wealth tax (IFI) which now only taxes real estate, introduce a single tax of 30% on capital: these are two flagship reforms of the start of the Macron five-year term. Three years later, what is their impact on the great French fortunes? According to a cabinet close to Matignon, the richest French are back since the reform. They were a hundred in 2017 and 250 a year later.
Great fortunes back in France
There are also fewer who leave. They were 400 to leave France in 2017, they were only 150 in 2018. If great fortunes are back and are less taxed, the question remains whether their money has been massively invested in French companies. This is what the government had promised, but to still believe the economist Stéphanie Villers, the movement is still timid.