The front page of The Daily Telegraph reported that the French Prime Minister warned against becoming a high-tax Britain before leaving office.

In his final strike before the collapse of his government last night, the French Prime Minister warned lawmakers not to become like high-tax Britain. Mr. Barnier will resign from his position as French Prime Minister. In a speech to lawmakers, Mr. Barnier warned that taxing billionaires to support the economy would only cause them to leave.

He said: "In Europe, there are many countries where they can find tax havens, such as Luxembourg, Belgium and the Netherlands for businesses." "It's like the real estate price situation in Milan." Mr. Barnier, 74, was ousted after failing to pass a austerity budget bill aimed at reducing France's deficit by 44 billion euros (38 billion euros).

This vote will put pressure on Mr. Macron to either hold another emergency election or step down early. Business confidence in France is declining, and social discontent is rising. Public debt in France accounts for 114% of GDP. "You can overthrow the government." The Socialist Party has only 66 seats in parliament, and they proposed to manage the government. However, there is doubt about whether anyone can form an effective alliance.

Mr. Macron ruled out the possibility of dissolving the parliament, but Marine Le Pen's National Rally, which is the largest single opposition party (the French version of Trump), urged him to hold new emergency legislative elections last night.

Then Barnier cited the UK's tax decisions as a cautionary tale: "Our British neighbors decided to tax foreigners who were previously tax-free. Those foreigners left, and the direct consequence was a sharp drop in property prices in the UK." He warned that if France started imposing punitive taxes on wealthy residents like Bernard Arnault, the CEO of LVMH, they would also leave. Elysee Palace stated that Mr. Macron will meet with Mr. Barnier today, "accepting his government's resignation." The statement added: "The president will appoint a new prime minister in the coming days."

Ms. Le Pen tried to overturn a five-year ban on running for public office, but did not directly call for Mr. Macron to resign.

However, Jean-Luc Mélenchon of the far-left La France Insoumise party predicted that it would soon be Mr. Macron's turn to step down. He said, "Macron is now standing at the front line facing the people. He must also step down." His party, La France Insoumise, is preparing to submit a motion of censure against the president today, although this motion is unlikely to pass.

Original: www.toutiao.com/article/1842735300515856/

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