The Socialist Party has filed amendments to impose an interest-free mandatory loan on the 20,000 wealthiest households, repayable in three or four years. This proposal, inspired by the 1983 Mauroy loan and revolutionary measures, aims to reach a budget compromise. The government has rejected it, stating there is no financing problem.
In the context of debates on the 2026 finance bill, socialist senators led by Patrick Kanner, head of the PS group in the Senate, filed three amendments on Tuesday evening proposing a forced loan from the wealthiest. This measure would compel around 20,000 highest-income households to lend a sum to the state, repayable in three or four years without interest, amid low inflation. According to Patrick Kanner, “it’s neither a tax nor an income tax. It’s fiscal patriotism, admittedly mandatory, but which will only marginally impact the largest fortunes.” The proposal could raise between 6 and 15 billion euros, affecting 0.05% of households, and would avoid borrowing on markets at high rates.
Inspired by the 1983 Mauroy loan launched by François Mitterrand's Prime Minister – which did offer interest – this idea more closely resembles the forced loans of the French Revolution under Robespierre. The ecologist group filed an identical amendment. Recent exchanges between Olivier Faure, PS first secretary, and Prime Minister Sébastien Lecornu aimed at a compromise to make the rich contribute to balancing public accounts.
On Wednesday, November 26, the government rejected the idea. Economy Minister Roland Lescure stated on France Inter: “Today, people continue to lend to France, and that's good. So a priori no need for a loan, especially a forced one.” Bercy, centrists, the senatorial right, and ecologists oppose it, highlighting the lack of financing needs. Debates in the Senate begin Thursday, amid tense budget discussions after rejection in first reading at the Assembly.
