A war of words has escalated between Emmanuel Macron and Francois Hollande after the French president's predecessor warned that cutting back on the country's wealth tax risked favouring the rich "while they sleep" over the poor.

Mr Hollande's outburst was clearly timed to inflict maximum damage on Mr Macron, who is fighting a rearguard action to counter rival claims that he is "president of the rich"; it coincided with Tuesday's parliamentary debate on watering down the deeply symbolic "tax on fortune", which previous French leaders have dared not touch.

In an interview on Sunday, Mr Macron, who wants to limit the tax to property, railed against "French jealousy that seeks to tax success", saying it was pointless "throwing stones at the lead mountaineers" as if they fall, then they will bring down "rest of the roped party with them".