“We can fall at any time,” acknowledges Sébastien Lecornu, earlier than the resumption of debates within the Assembly on Monday | EUROtoday

The National Assembly voted for the transformation of the true property wealth tax (IFI) into an “unproductive wealth tax”, the results of a motley alliance bringing collectively the National Rally (RN), the Socialist Party (PS), the MoDem and deputies from the centrist LIOT group. An modification by MoDem deputy Jean-Paul Mattei, sub-amended by PS deputy Philippe Brun, was adopted by 163 votes to 150.

If Mr. Brun congratulated himself to the press on “reestablishment of the wealth tax [ISF] » deleted by Emmanuel Macron, the Renaissance deputy Prisca Thevenot considered that what had been voted on was “a tax invented by Marine Le Pen herself” and in no case the return of the ISF, ” Otherwise (…) Rebellious France [LFI] would have voted for it ».

The left outside the PS overwhelmingly voted against the amendment. “We weakened the IFI without even reintegrating the ISF” estimated the president of the finance committee, Eric Coquerel (LFI).

The Prime Minister’s entourage stressed that the government was “opposed to the reestablishment of the ISF”.

Mr. Mattei’s amendment provides in its original wording to include in the tax base “unproductive assets” such as the “non-productive real estate, tangible movable property (precious objects, cars, yachts, planes, furniture, etc.), digital assets, life insurance for funds not allocated to productive investment”according to its explanatory memorandum.

On the other hand, productive real estate assets are excluded from the IFI’s base, being considered as such properties rented for a period of more than one year meeting environmental criteria. It also modifies the IFI scale, replacing the progressive scale with a single rate of 1%.

A subamendment by Mr. Brun, tabled during the parliamentary break at the start of the evening, and adopted by the deputies, excludes from the base one property per tax household, within the limit of a reduction of one million euros. A close amendment had been tabled by the RN, excluding the main or sole residence from the base, in accordance with its proposal for a Financial Wealth Tax (IFF). Another sub-amendment from Mr. Brun reinstates rented property in the base.

Mr Mattei wished to boost the tax fee threshold to 2 million euros, however one other sub-amendment by Mr Brun saved the brink at 1.3 million euros.