Michel-Édouard Leclerc,head of teh E.Leclerc group, has voiced strong opposition to the proposed wealth tax, dismissing it as a “dramaturgy full of ego” and an ineffective solution to France’s fiscal challenges.

in a recent interview, Michel-Édouard Leclerc labeled the Zucman tax a mere “scarecrow.” He argued that while it might resonate politically, it fails to stimulate economic growth. “It effectively works politically as it is indeed a flag of revolt, but it does not operate the economy. […] It does not bring a solution for growth,” he stated.

The proposed tax, championed by economist Gabriel Zucman, aims to impose a 2% minimum tax on individuals with assets exceeding 100 million euros. While “I am against all forms of tax” added Michel-Édouard Leclerc, he acknowledged the growing wealth inequality in France and the need to address it.He suggested focusing on “an income policy, the revival of wages, the release of the low -wage hatch and the rapprochement of the gross salary of net salary”.

leclerc Calls for Broader Economic Reforms

“For me, it’s a scarecrow… It does not bring a solution for growth.”

Leclerc cautioned that the wealth tax would not resolve the underlying issues plaguing public finances, comparing it to “Fill a bucket that we have not blocked the holes”. He criticized the political class for engaging in a “Dramaturgy full of ego,” adding, “The show is distressing. The politician wanted to position himself as a sovereign, debt manager. To take a metaphor: in our boxes, it is indeed not the accountant who makes the progress plan.”

He concluded by asserting that France “Is not bankrupt” and that alarmist rhetoric about debt “Do not make a growth policy”,Michel-Édouard Leclerc has also denounced the political class.