France's Richest People Urge Government To Tax High Revenues-Report

Sixteen of France's richest business men and women called on the government to create a new extraordinary tax on very high revenues, to support efforts to reduce the country's deficit and public debt, in an editorial published Tuesday on the website of French weekly Le Nouvel Observateur.

"We are aware that we have fully benefited from a French model and European environment to which we are attached, and that we wish to help preserve today," the group said in a statement. "This contribution can not be a solution in itself: it must be part of a larger effort to reform spending and tax policy," they added.

The group includes Liliane Bettencourt, heiress to the L'Oreal cosmetics empire; L'Oréal Chief Executive Officer Jean-Paul Agon; Veolia Environnement Chief Executive Officer Antoine Frérot; Accor Chief Executive Officer Denis Hennequin; Publicis Chief Executive Officer Maurice Lévy; Total Chief Executive Officer Christophe de Margerie; and Société générale Chief Executive Officer Frédéric Oudéa.

Newspaper website: http://tempsreel.nouvelobs.com/actualite/economie/20110823.OBS8954/exclusif-l-appel-de-tres-riches-francais-taxez-nous.html

-By Paris Bureau, Dow Jones Newswires, 33 1 4017 1740;

noemie.bisserbe@dowjones.com

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