French Finance Minister Bruno Le Maire said he will use a provision in French law to tax excess profits of toll road operators in the 2024 budget.
(Bloomberg) — French Finance Minister Bruno Le Maire said he will use a provision in French law to tax excess profits of toll road operators in the 2024 budget.
The government is still working with lawmakers on how to use the mechanism and Le Maire declined to comment on whether airport operators would be affected.
“We will put a tax in place to avoid the excess profits of highway companies,” Le Maire said on LCI television.
The finance minister also gave the following details on the 2024 budget:
- State to forfeit around €6 billion ($6.4 billion) of potential revenue by deciding to peg income tax thresholds to inflation
- France will not reinstate state-financed fuel discounts, but new checks for low-income motorists aren’t excluded
- Government will gradually decrease fuel support for farmers
- All additional revenue for the state from the change will be paid to farmers to enable them to invest in lower carbon production
- State to take same approach to construction industry
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