Income tax and CSG, Marine Le Pen
Flat-rate levy on capital (flat tax): Flat tax (PFU) cut from 31.4% to 30%
Direction of change: decrease, compared with current law.
The lever. Single rate applied to dividends, interest and capital gains on securities, tax and social levies included: maintained, increased or return to the income tax scale. Direction rule: ↑ heavier levy on capital income.
« Néanmoins, dans un premier temps, un effort sera demandé aux plus favorisés. Si nous baisserons le montant actuel de la flat tax pour le ramener à 30 % et ainsi rétablir la confiance des investisseurs, nous remplaçons, comme je l'ai toujours indiqué, l'IFI par un impôt sur la fortune financière. »1Translation by the editorsNevertheless, initially, an effort will be asked of the most well-off. While we will lower the current level of the flat tax to bring it down to 30% and thus restore investor confidence, we are replacing, as I have always said, the IFI with a tax on financial wealth.
Words of Marine Le Pen, Chaîne YouTube officielle de Marine Le Pen, « La trajectoire financière de mon quinquennat », conférence de presse (vidéo, transcription de la rédaction), 6 October 2026. Position taken from public statements, not from a written programme.
No programme released. Positions taken from public statements, words of associates or documents of the candidate’s party, each dated and sourced; last recorded on 18 October 2026.
Encoding
| Parameter | Current law | Proposed | Effective date or horizon |
|---|---|---|---|
| Income tax component of the flat tax (PFU) | 12.8% | 11.4%* (outside the range measured by the source: linear extrapolation) (assumption by the editors, see the costing) | Full year, in 2025 euros; to be indexed for 2032 |
Costing
Announced by the candidate
not announced
The cited source does not cost this measure.
Published costings
none
No external costing of this position recorded to date.
Our calculation
−€0.6bn* (outside the range measured by the source: linear extrapolation)
per year for the public accounts, revenue cut, range −€0.6bn to −€0.5bn.
* Outside the range measured by the source: linear extrapolation (measured range: 12.8% only).
The calculation
- Income tax component of the flat tax (PFU): (11.4 − 12.8) ÷ 1 = -1.4 times “1 point increase in the income tax component of the PFU (12.8% to 13.8%), static (derived: €5.3bn / 12.8)”, each a gain of €0.41bn (0.35 to 0.41). Proposed value outside the range measured by the source: linear extrapolation (measured range: 12.8% only). Coefficient calculated by the editors from the yield at the current rate (12.8%): any other value is a linear extrapolation, flagged as such.
Assumption by the editors. The candidate brings the flat tax (PFU) « à 30 % » [“to 30%”]; it has stood at 31.4% since the LFSS 2026 (12.8% income tax and 18.6% social levies, including CSG raised from 9.2% to 10.6% on most investment income), and she does not say which part falls. Reading used, the same as for Raphaël Glucksmann: a 1.4-point cut borne by the income tax part (12.8 → 11.4%), costed with the coefficient for that part (€0.41bn per point at the centre, editors' calculation); a return of the CSG on this income to 9.2% would apply to a similar base. No amount announced.
Coefficient calculated by the editors from Sénat, rapport général n° 108 (2017-2018) sur le PLF 2018, tome II, examen de l'article 11 (prélèvement forfaitaire unique): the position is marked as an assumption by the editors.
Current law, sources and limits of the cost schedule
Current law. Flat tax (PFU) of 31.4% since the LFSS 2026: 12.8% income tax and 18.6% social levies (CSG raised to 10.6% for most securities). It was 30% (12.8 + 17.2) from 2018 to 2025. The option for the income tax scale remains open. 2025 yield: €5.3bn of income tax on income and capital gains from securities; €18.5bn of CSG and CRDS on capital income; €14.4bn of other social contributions.
Horizon. Full year, in 2025 euros; to be indexed for 2032.
Limits. Capital income is highly sensitive to taxation: dividends jumped after 2018. Static costing therefore overstates the gain from an increase; behavioural effects are presented separately. The cost of €1.9bn of the PFU in 2019 (€1.3bn in 2018) is the Government's costing, assuming unchanged behaviour, reported by the Senate (general report on the PLF 2018); the same report cites economists' estimates of « une dizaine de milliards » [“around ten billion”] in steady state, not static and not counted. Upper bound: the Institut Montaigne (2022) costs the return to the income tax schedule at €2.1bn to €2.3bn « à assiette constante » [“on a constant base”] (ex ante cost of the PFU of €1.6bn to €1.8bn, updated with the growth in capital income from 2018 to 2022, in 2022 euros), and at €1.5bn with behavioural effects (not counted). Per-point calculations divide the revenue by the rate, without microsimulation.
- Sénat, rapport général n° 108 (2017-2018) sur le PLF 2018, tome II, examen de l'article 11 (prélèvement forfaitaire unique), 2017-11-23: « Cela conduira à augmenter le coût de la réforme pour les finances publiques : en effet, le coût des réformes est toujours évalué par le Gouvernement à comportement constant. Le chiffre de 1,3 milliard d'euros en 2018 et de 1,9 milliard d'euros en 2019 ne prend donc pas en compte l'impact de l'optimisation fiscale. »
- Institut Montaigne, Présidentielle 2022, « Supprimer la flat tax et imposer les revenus du capital comme ceux du travail » (Jean-Luc Mélenchon), copie d'archive du 13 mai 2022, 2022-04: « Gain entre 2,1 Md€ et 2,3 Md€ (à assiette constante) ; 1,5 Md€ en prenant en compte les effets de comportement sur le versement de revenus mobiliers. […] La mise en place du PFU en 2018 représente un coût de 1,8 Md€ pour l’État en rythme de croisière (1). »
- Fipeco, Les impôts sur le patrimoine des ménages, 2026: « de 5,3 Md€ pour le prélèvement sur les revenus et plus-values mobilières au titre de l'impôt sur le revenu et de 14,4 Md€ pour les contributions sociales hors CSG et CRDS ... En 2026, le taux des contributions sociales passe à 18,6 %, et le taux global du PFU à 31,4 % »
- Fipeco, L'impôt sur le revenu et la CSG, 2026-06-01: « Revenus du capital 18 [Md€ de CSG en 2025] »
How to read these amounts. These are static costs and revenues, with no feedback effect, over a full year: nothing on growth, employment or the revenue that economic activity would gain or lose. A higher net cost does not on its own make a worse policy, nor net savings a better one: each programme rests on an economic model (demand-led stimulus, lower compulsory levies, consolidation of the public accounts…) that the cost schedule does not settle. GDP itself measures a volume of activity, not well-being or the usefulness of what is produced. Economic models and feedback effects.
- Chaîne YouTube officielle de Marine Le Pen, « La trajectoire financière de mon quinquennat », conférence de presse (vidéo, transcription de la rédaction), 6 October 2026. Words of Marine Le Pen. Position taken from public statements, not from a written programme. Read the source (Chaîne YouTube officielle de Marine Le Pen, « La trajectoire financière de mon quinquennat », conférence de presse (vidéo, transcription de la rédaction)).
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