He wants to change the taxation of life insurance, prevent buying or selling shares at any time... How Mélenchon wants to regain control of the money of the French and businesses

What if the money invested by the French in their life insurance no longer benefited from the same tax advantages depending on whether it financed a French or foreign company? What if the shares of companies listed on the Paris Stock Exchange could no longer be bought and sold constantly? These two proposals appear in the new edition of L'Avenir en commune, the program supported by Jean-Luc Mélenchon and La France insoumise.

Beyond the measures already known on salaries (SMIC at 1,700 euros net), pensions (return to 60 years old with 40 annuities) or taxation of the richest (reestablishment of the ISF and Zucman tax), the document defends a transformation of the functioning of financial markets. Life insurance in the viewfinder to encourage investments in France The first proposal could concern an investment particularly appreciated by the French: life insurance.

The program intends to “remove tax advantages on French savings invested abroad, particularly for life insurance”. As La Tribune revealed, more and more French savers are tempted to invest their money in Luxembourg. According to the latest figures from France Assureurs, life insurance represented 2.

161 billion euros in outstandings at the end of September 2026, up 4.6% year-on-year. This is one of the main sources of savings for French households. Today, a life insurance contract can make it possible to invest in government bonds, shares of French companies, but also international funds holding American, European or Asian securities.

With advantageous taxation: reduced taxation of earnings after eight years of holding with an annual deduction of 4,600 euros for a single person and advantageous inheritance tax. With the LFI proposal, this logic could change.

The objective would be to reserve tax advantages for savings oriented towards the national economy, in order to encourage insurers and savers to finance French companies more. But the program does not specify how this distinction would be applied. Would tax benefits be removed only on gains from foreign assets?

Would existing contracts be affected? What would happen to funds investing both in France and abroad? The document does not resolve these questions.

Jean-Luc Mélenchon's party will perhaps say more in the coming months. The question is all the more important as life insurance already makes a significant contribution to business financing. According to France Assureurs, at the end of 2025, 64% of its assets were invested in corporate financing, in France and abroad, and 24% in sovereign bonds.

Ending the continuous listing of companies on the Stock Exchange Another particularly unusual proposal: “ending the continuous listing of companies on the Stock Exchange”. Currently, on Euronext Paris, shares of large companies can be bought and sold throughout the session, generally between 9 a.m. and 5:30 p.m. Prices constantly change according to investor orders.

Machine-translated from French