"a wealth tax that could cost him more than 1bn (817m) would be deadly for France's economy."
"a 2% wealth tax would be an offensive, which is deadly for our economy."
"I am certainly the largest individual taxpayer and one of the largest professional taxpayers through the companies I run in France."
"my attachment to France and my faith in its future"
Bernard Arnault warned that a proposed 2% wealth tax on fortunes above €100m could cost him more than €817m and be deadly for France's economy. The 2% levy was proposed by economist Gabriel Zucman as a way to help a squeezed French budget amid a political crisis and unpopular austerity measures. President Emmanuel Macron appointed Sebastien Lecornu as prime minister after Francois Bayrou failed to pass an austerity budget. Arnault holds a $169bn net worth, mainly from a 48% stake in LVMH, and emphasized his status as a major individual and corporate taxpayer. Arnault previously sought Belgian citizenship then withdrew the application in 2013 as a gesture of attachment to France.
Read at www.theguardian.com
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