France, Jan. 23 -- The tax on top earners that was introduced last year is expected to raise only €650 million this year compared to the €1.65 billion initially forecast, sources at the Ministry for Public Accounts told journalists, confirming areportby French daily Le Monde.

First conceived under former Prime Minister Michel Barnier, the "differential contribution on high incomes" (CDHR) was introduced in the 2025 budget adopted last February. It sets a minimum tax rate of 20 percent on individuals earning more than €250,000 a year, or €500,000 for couples without children.

Revenue projections have been revised downwards. Last year, the CDHR raised only €400 million, almost five times less than the €...