Of course hard-fisted wealth confiscation drives people to land their wealth on safer shores, it’s to be expected, and was widely predicted when the intention was first publicized. The Left are regressive, anti-Enlightenment no growth medieval throwbacks.
Are taxes behind a rise in number of wealthy French people heading abroad? Photo: AFP
Actor Gérard Depardieu may have been the most high profile wealthy Frenchman to take his fortune abroad, but he’s not the only one.
Indeed French film director Luc Besson announced this week that in future he would be paying his taxes in California rather than France.
The leaving of the likes of Depardieu has helped fuel the image that any French person worth a bit of money was packing their suitcase to escape the country’s tax man – who shot to global fame in 2012 when François Hollande vowed to introduce a 75 percent levy on millionaires.
And new figures published by financial newspaper Les Echos, which came from the Ministry of Finance at Bercy, will only give ammunition to those on the right who accused the Socialist government of driving the wealthy abroad.
In 2013 the number of French tax payers earning over €100,000 a year leaving for abroad rose by 40 percent, Les Echos says, with 3,744 individuals heading for the departure gates.
That compares to 2,674 in 2012, the year Hollande was elected and 1,330 in 2010.
And for the very, very rich who earn over €300,000 each year, the number of nationals quitting France rose by 46 percent from 451 in 2012 to 659 in 2013