France has a habit of playing with fire when it comes to taxation, and the backlash is usually delayed. For decades, the use of production taxation, which duplicates traditional taxation, has undermined French competitiveness.
At the end of 2024, French general government debt stood at 113% of the country’s GDP, or approximately €50,000 per capita. Since 1969, the debt-to-GDP ratio has increased eightfold.