Friday, 14 January, 2022

ISF: Macron’s severe call to order to his ministers

It’s a little music that goes up, that goes up and that the Head of State did not appreciate. In the midst of the yellow vests crisis, Emmanuel Macron took advantage of the Council of Ministers to reframe the members of his government who ventured to discuss a possible recovery of the ISF.

“We will not unravel anything that has been done for eighteen months”, ruled the President of the Republic, according to The echoes. This reframing targets in particular the Secretary of State for Equality between women and men, Marlène Schiappa, who had announced that she was ready to propose to “restore the ISF” if the evaluations of the new device which replaces it are not conclusive . The transformation of ISF into Real Estate Wealth Tax (IFI) will be assessed by Parliament, from autumn 2019.

The reestablishment of the ISF is one of the primary demands of the yellow vests, who see it as a tax gift made to the richest class in the country. For Emmanuel Macron, this campaign promise was put in place to encourage the wealthiest taxpayers to invest in SMEs rather than in real estate. We will have to wait a few more months and the parliamentary evaluation to find out whether part of these three billion tax exemptions will have been reinvested by its beneficiaries in the French economy.

Solidarity tax on wealth