Sébastien Lecornu open to Zucman tax substitute
French Armed Forces Minister Sébastien Lecornu has expressed readiness to create a substitute for the Zucman tax in the 2025 budget. Nobel Prize-winning economist Joseph Stiglitz supports France implementing the tax independently. These statements come amid debates on financing defense and reducing inequality.
On October 3, 2025, Sébastien Lecornu, the French Minister of the Armed Forces, stated during budget discussions that he was open to creating a substitute for the Zucman tax. Proposed by economist Gabriel Zucman, this tax aims to levy on the wealthiest to fund public spending, particularly defense. Lecornu remarked: 'I am ready to create a substitute for the Zucman tax,' highlighting a willingness to explore viable alternatives in ongoing budgetary talks.
In an interview published the same day, Joseph Stiglitz, the 2001 Nobel Prize winner in economics, urged France to implement the Zucman tax unilaterally. He argues it would position the country as a global leader in progressive taxation. Stiglitz stated: 'France can implement the Zucman tax alone; it would make it a leader to follow.' He emphasizes benefits for reducing inequality and funding public needs without awaiting European coordination.
These statements occur amid negotiations on the 2025 finance bill, where the government seeks additional resources amid budgetary constraints. The Zucman tax, originally designed to target undeclared financial assets of the ultra-wealthy, has sparked intense debate in France. While Lecornu suggests a substitute, potentially less ambitious, Stiglitz stresses the need for a strong, independent measure. No major contradictions appear between the sources, which align on the relevance of this taxation for current challenges.