The French government's proposed super-tax on top income earners will be re-drafted, but the terms and timing of its return are uncertain, reports The Age.
François Hollande has vowed to press on with his super-tax on the rich, despite a damning decision by France's top court to throw it out as unconstitutional. But it is uncertain when a new version of the tax will be introduced and whether it will be watered down.
In his televised New Year's address, the French President deliberately did not mention the figure of a 75 per cent tax on incomes of more than €1 million, leaving the way open for his deeply symbolic measure to be changed.
''We will still ask more of those who have the most,'' Mr Hollande said. The exceptional tax on France's wealthy would be ''adjusted without changing its objective'' but did not provide details.
The President, whose unpopularity is at record levels as he faces a year of further economic gloom, suffered a huge personal blow over the weekend when France's highest court threw out his tax proposal.
The temporary tax, which Mr Hollande had described as an act of ''morality'' and ''patriotism'' by the wealthy, now faces a delay of at least a year, if it is passed at all.
The measure was rejected as unconstitutional on a technical issue, leaving France surprised that the government could have overlooked the fine detail. The embarrassed government was attacked for amateurism by political opponents to the Right and Left.
Read more of this Guardian report published by The Age.