Despite celebrities and businesses threatening to leave France, Francois Hollande is determined to bring in the 75 per cent tax France's highest court today gave Francois Hollande the green light to introduce a top tax rate of 75 per cent. After months of wrangling, the Constitutional Council said the controversial proposal by the Socialist president was within the law. It has already led to entrepreneurs and celebrities leaving France, but Mr Hollande is determined to see the policy implemented. Now companies will have to pay 75 percent tax on all annual salaries exceeding one million euros, the equivalent of £830,000.
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Constitutional Court rules that tax on one million euro earners is legal
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Francois Hollande is determined to see the policy enacted
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Celebrities and businesses have threatened to leave the country en-masse
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Mr Hollande is the most unpopular French president in recent history
But in a ruling published on Sunday, the council said a reformulated tax ‘conforms with (@placeholder’s) constitution’.