Since its revolution France has had a reputation for loving to hate the rich. But it has always boasted mega-wealthy business leaders, global brands, moneyed aristocratic families and designer luxury from embossed crocodile handbags to villas on the Riviera. Now it could be set for a new record as the European country doing the most to soak the rich.
The president, François Hollande, made no secret of his election pledge to squeeze fat cats and hit the mega-rich, making them bear the brunt of "sacrifices" needed to fix public finances. This week he was true to his word. The wealthiest households, banks and big business are to shoulder the best part of €7.2bn (£5.7bn) in tax rises this year, and more next year. France, already the only EU country with a wealth-tax, will increase it, with people worth more than €1.3m paying a one-off levy this year.
Inheritance tax, lowered by Sarkozy, will rise. New taxes are aimed at bank profits, dividends, bonuses, stock options, big businesses and energy companies holding petrol stocks. Already there has been a clamp-down on fat-cat salaries with a cap on the pay of chief-executives at state-owned companies.