In France, the new special income tax on high earners has failed to raise as much as projected... but this is partly due to lobbying from the wealthy to ensure the tax was not retrospective & delayed, meaning income could be taken in the window before its imposition.

However, it's still expected to raise less than initially projected in 2026 too, although that will come down to 'tax planning'.

What lessons this might indicate for the UK lie in politics not economics!

#tax #inequality
h/t FT