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Friday, May 4, 2012

Wealthy French eye move across the Channel

According to the French polls and media, a French socialist who advocates for a 75% tax on the wealthy appears likely to defeat incumbent Sarkozy. The French economy is already a mess, as are most western economies. The cradle to the grave welfare state has been a big fail but folks tenaciously cling to the delusion that if they only had everybody else's money  then socialism would indeed be the cornucopia of plenty. Well, what will happen is that the folks with money will start fleeing France and French misery will significantly intensify.
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.
Read the rest here
Financial Times 

Judy Morris,
Blogger, THL
Articles | Website

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