Michel Barnier, France’s new prime minister, is mulling over taxing “rich people or certain large companies” as he seeks to avoid a spiralling deficit ahead of a crunch budget.

French Prime Minister Michel Barnier said on Sunday that he would not raise taxes on most French taxpayers, although the wealthiest would have to help close a hole in the budget.

French Prime Minister Michel Barnier has announced that he will not raise taxes on the majority of French taxpayers. However, he indicated that the wealthiest citizens would need to contribute to addressing the budget deficit.