France expands wealth tax to target 1.450 trillion euros in savings

France has reintroduced a wealth tax, targeting 1.450 trillion euros of savings. This move is criticized for punishing prudence and potentially weakening the state. The new tax, evolving from the Real Estate Wealth Tax (IFI), now encompasses not only property but also tangible movable assets like art, luxury vehicles, and gold, as well as digital assets such as cryptocurrencies. This expanded wealth tax, passed by the National Assembly on October 31, 2025, is seen as a significant shift and a direct threat to French savings and fiscal stability.