France’s parliament has voted to increase taxes on the rich, a move that has angered many wealthy in the country.
The rich now face a rise in wealth tax as well as a tightening of inheritance tax. More measures are also expected, including a 75 per cent tax rate on annual incomes of more than $1.2m.
Opinion polls showed that most French citizens approved the tax hikes, but some of the rich have called them “counter-productive”.
Al Jazeera’s Tim Friend reports from Paris.