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French bankers take 'red carpet' to London

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Nicola Hebden - [email protected]
French bankers take 'red carpet' to London
Kismihok

French bankers and high earners could be relocating from Paris to London to escape high taxes, new reports suggest.

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A 51 percent rise in French-language applicants has been seen by London-based recruitment agency Astbury Martin, which specialises in banking, according to London paper City AM.

A survey by website Totaljobs.com has revealed 42 percent of French workers are willing to move to the UK, whereas only 32 percent of the global workforce would be happy to work in France. Some 49 percent would be willing to work in London.

“There is a definite spike in French-speaking candidates,” said managing director of Astbury Martin, Jonathan Nicholson.

“We have not seen similar increases in candidates from other countries, so it may well be connected to May’s change in government in France.”

One of President François Hollande’s main campaign promises this year was a 75p top tax rate, with the aim of raising funds from the super rich.

After Hollande’s election in May, British Prime Minister David Cameron said he would “roll out the red carpet” to any French businesses looking to escape their county’s tough stance on tax.

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