Many businesses and local governments have been left reeling in the wake of the deeply destructive Islamo-leftist riots in recent weeks, with estimates putting the damage from the looting, arson, and other violent acts at around €1.2 billion for the weekend of October 17th alone. The two days of rioting saw over 3,000 businesses impacted, with many facing the prospect of going out of business after multicultural gangs of hoodlums destroyed and looted their life’s work.
According to a report from French financial daily Les Echos, the measure is expected to take effect at the start of the new year and would add a 0.8 per cent “solidarity contribution” to the cost of insurance policies, including auto, business, and home.
The government reportedly hopes to raise €400 million from the scheme, with a maximum revenue target of €4 billion. As a benefit to those forced to pay for the riots, they will automatically be insured against damage to their personal property.
Although the expected tax hike appears to be significantly smaller than initially planned, the insurance charge was initially set at five per cent and later at two.