Bloomberg News

Rich French Consider London Move on Hollande Tax Fears, FT Says

May 05, 2012

More wealthy French people are considering moving to the U.K. if Socialist candidate Francois Hollande wins the presidency and fulfills a pledge to raise taxes on incomes of 1 million euros ($1.3 million) or more to 75 percent, the Financial Times said.

London-based wealth manager Vestra Wealth said inquiries from French clients has climbed about 40 percent, the newspaper said. London’s prominence as a financial center combined with concerns about Hollande’s plan to tax the wealthy is spurring French professionals to consider moving, the FT said.

To contact the reporters on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net Z LN Equity

To contact the editors responsible for this story: Edward Evans in London at at eevans3@bloomberg.net


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