Luxembourg prime minister Xavier Bettel (DP) is pictured in this 2018 archive photo
Photo: Matic Zorman/archives
Luxembourg’s prime minister has put an end to discussions of a wealth tax, saying it won’t happen under his watch.
In an interview with the Luxemburger Wort (paywall), Xavier Bettel (DP) said that inheritance tax and wealth tax are “not in the coalition programme,” nor does he intend to include them.
The clear line comes after opposition party leader Frank Engel (CSV) said in an interview with Reporter that he supported the reintroduction of the wealth tax, the creation of a financial transaction tax and even a reform of inheritance tax in the direct line.
In the Wort interview, Bettel said he was aware the coronavirus was not included in the coalition programme either but raising taxes would be toxic for the population and economy.
His comments contrast somewhat with those of economy minister Franz Fayot (LSAP) who a week ago said that an intelligently structured wealth tax could be better than introducing an inheritance tax.
Luxembourg previously had a net wealth tax for natural persons that was abolished in 2006. A full list of net wealth exemptions can be found here.