France's budget: Oxfam proposes tax on 'super-inheritances' to raise billions
As France hunts for billions of euros to fix its public finances, Oxfam pushes the Dutreil pact centre stage, saying it could raise billions from the largest inheritances.
As France grapples with a deteriorating public deficit and debt, the NGO Oxfam has proposed a potential solution: a tax on super-inheritances. In a report released on September 22, the organization aims to spotlight the Dutreil pact, a tax scheme that offers significant reductions in inheritance tax when a company is transferred.
The report comes at a critical time, with public finances already weakened between 2025 and 2026, with the deficit and debt rising from 5.1% to 5.4% of GDP and 115.7% to 119.3%, respectively. The Treasury believes that substantial fiscal efforts will be needed in the upcoming years. Oxfam argues that the budgetary effort could involve a thorough review of certain tax breaks, such as a cap on the exemption granted under the Dutreil pact.
By limiting the exemption to 1 million euros per beneficiary, Oxfam estimates that the state could recover more than 3 billion euros annually. The proposal has sparked debate on how much of the financial burden should fall on the wealthiest individuals and largest inheritances.
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