France

French Bankers Leave France To Escape Higher Taxes

Turns out a seventy five percent income tax makes people reconsider residency.

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PARIS/LONDON (Reuters)—The City of London financial district, though diminished by scandals and job cuts, is proving irresistible to fed-up Parisian bankers fleeing France's rising taxes and the feeling that they're not best loved at home.

French financial groups big and small, from advisory firms and private equity houses to big banks like Societe Generale, are looking at London as a possible shelter from a new 75 percent tax rate on top French earners, bankers say.