Hollande proposes 75% top tax rate / Hollande takes campaign to London

François Hollande, the Socialist challenger for the French presidency in 2012, launched a surprise offensive against top earners on the 28 February 2012, proposing a marginal tax rate of 75% on incomes above €1m a year – a level far in excess of top rates elsewhere in Europe.

Quickly condemned by President Nicolas Sarkozy, who he aimed to unseat in the election in April / May 2012, Mr Hollande said the rising level of executive pay at top companies, which he said averaged €2m a year, was unacceptable.

ESO: Background information: French presidential election, 2012 http://www.europeansources.info/record/french-presidential-election-2012/

ESO: Background information: François Hollande: Towards a European 'New Deal'? http://www.europeansources.info/record/francois-hollande-towards-a-european-new-deal/

France24, 28.2.12: Hollande vows 75% tax rate for France's top earners http://www.france24.com/en/20120228-hollande-sarkozy-elections-france-tax-rate-super-rich-top-earners

The Local.fr, 28.2.12: Socialist surprises with plans for 75% tax rate http://www.thelocal.fr/2697/20120228/

BBC News, 28.2.12: French election: Hollande wants 75% tax on top earners http://www.bbc.co.uk/news/world-europe-17189739

France24, 29.2.12: Can Hollande turn London’s French voters Socialist? http://www.france24.com/en/20120229-can-francois-hollande-turn-london-visit-french-voters-socialist-sarkozy-rightwing

Spiegel Online International, 28.2.12: French Candidate Calls for Top Tax of 75 Percent http://www.spiegel.de/international/europe/0,1518,818136,00.html

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