France's public debt hits 3.5955 trillion euros, prompting plans for a 17% tax on forgotten bank and insurance savings.
France's public debt rises
France's public debt reached 3,595.5 billion euros by the end of June 2026, according to recent reports. This figure represents the total amount of money the government owes to creditors, both domestic and foreign.2027 budget includes new tax
The 2027 budget plans include a 17 percent levy on money forgotten in banks and life insurance policies. This tax would apply to unclaimed funds that have remained in accounts or policies for a long time without any activity or contact from the account holder.State cannot access French savings directly
The state cannot access the savings of the French directly. This means that the government cannot simply take money from individuals’ bank accounts or insurance policies without their consent or legal justification.European precedents for such a measure
The only European precedents for such a measure date back to 1992 and 2013. These earlier instances involved similar attempts to recover unclaimed funds, though they were not as widely publicized or implemented as the proposed 2027 tax in France.
