Wealthy French eye move across the Channel
Wealthy French people are looking to London as a refuge from fresh taxes on high earners pledged by candidates in the country’s presidential elections.
The “soak the rich” rhetoric that has punctuated the presidential campaign has prompted a sharp rise in the numbers weighing a move across the Channel, according to London-based wealth managers, lawyers and property agents specialising in French clients.
François Hollande, the Socialist candidate who leads the presidential race after the first round of voting last week, wants to impose a tax rate of 75 per cent on income above €1m and at the launch of his bid in January said: “My true adversary in this battle has no name, no face, no party … It is the world of finance.”
Inquiries from French clients had risen by roughly 40 per cent since the speech, says David Blanc, a partner at Vestra Wealth, a London-based wealth manager.
Un autre exemple démontrant que « taxer les riches » n’est pas et ne sera jamais une solution. En voulant surtaxer les gens à haut revenu, tout ce que les Français vont réussir à faire c’est de tuer la poule aux oeufs d’or…