Wealth Tax Backed by French Lawmakers Is Panned by Government

French Budget Minister Amelie de Montchalin criticized a bill adopted by the National Assembly for a 2% wealth tax, saying the measure — which is unlikely to become law — would hurt investment and job creation.

The measure “would have one grave consequence for our country and that is that the investment, entrepreneurship and corporate growth that we are trying to promote because it’s good for the French, for jobs and everyone’s wealth, would drop, and that’s not tolerable,” she said Friday in an interview on TF1 television.

Amelie de Montchalin

Photographer: Amelie de Montchalin/AFP/Getty Images

Montchalin spoke hours after the lower house of parliament adopted the ...