Abstract

http://ssrn.com/abstract=2191927
 
 

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The New French President’s Budgetary and Fiscal Doctrine: Constraints, Implementation and Consequences


Eric Pichet


KEDGE Business School

November 15, 2012

La Revue de Droit Fiscal, No. 46, November 2012

Abstract:     
The study’s first section introduces the economic and legal constraints complicating the budgetary mathematics that all European countries are facing today, while demonstrating the challenges of applying current budgetary and fiscal doctrine in the draft bills that are currently making their way through the French Parliament. The second section analyses the main tax measures in France’s 2013 Provisional Budget affecting private persons, instruments that are founded on two main principles: the alignment of taxation on income from capital with taxation on work; and the growing fiscal burden on the upper social classes. The third and final section compares France’s leading tax rates with what is found in other countries. It formulates predictable economic consequences from the growing discrepancies between French taxation of capital and high value-added work and its main competitors. The conclusion shows how tax policy will be a new experience for France over the next few years, making the country a particular useful laboratory for research on tax economics. This will probably clarify some very important theoretical debates about whether lower spending or higher taxes are a better way of cutting the public deficit. It is also likely to provide proof of the existence of an optimal tax threshold (affecting income but also capital) beyond which tax revenues diminish due to new social phenomena such as tax expatriation and the way countries can become less attractive to highly qualified work and capital investment, both key factors in the 21st century for the competitiveness of leading nations.

Number of Pages in PDF File: 29

Keywords: Tax policy, current budgetary and fiscal doctrine, constraints, implementation and consequences

JEL Classification: E62

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Date posted: December 20, 2012  

Suggested Citation

Pichet, Eric, The New French President’s Budgetary and Fiscal Doctrine: Constraints, Implementation and Consequences (November 15, 2012). La Revue de Droit Fiscal, No. 46, November 2012. Available at SSRN: http://ssrn.com/abstract=2191927

Contact Information

Eric Pichet (Contact Author)
KEDGE Business School ( email )
Domaine de Luminy - BP 921
BP 921
Marseille, PACA 13288
France
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