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French prime minister does not rule out windfall tax

·1 min read

PARIS, Aug 27 (Reuters) - French Prime Minister Elisabeth Borne does not rule out implementing a windfall tax, according to an interview with French daily Le Parisien published Saturday.

"I am not closing the door on a windfall tax," said Borne, adding that she considered it more efficient for companies to take measures to lower prices for consumers and improve the buying power of their employees.

She said she plans to remind French business leaders at a meeting on Monday that "everyone must be responsible," and that "nobody would understand if companies made exceptional profits while French people are worried about buying power."

French companies such as TotalEnergies and Engie posted bumper profits in July, cashing in on a surge in oil and gas prices following Russia’s invasion of Ukraine - which in turn led to renewed calls in some quarters for a windfall tax.

Total at the end of July increased a summer discount on French fuel prices by two cents as the government pressured companies to help consumers cope with the accelerating inflation.

(Reporting by Mimosa Spencer, Editing by William Maclean)