Don't miss

Replay


LATEST SHOWS

THE WORLD THIS WEEK

Chaos and confusion after Brexit, Istanbul Airport attack (part 2)

Read more

THE WORLD THIS WEEK

Bitter Divorce: Chaos and confusion after Brexit (part 1)

Read more

DOWN TO EARTH

Extinction crisis: Saving the planet's species from an irreversible fate

Read more

#THE 51%

Unlocking the code: Women refugees offered classes in coding

Read more

#TECH 24

Viva Technology!

Read more

ENCORE!

Marcia Gay Harden, a down-to-earth Hollywood star

Read more

YOU ARE HERE

France’s Camargue region and its herdsmen

Read more

FOCUS

The steady rise of women in Taiwanese politics

Read more

FASHION

For summer 2017 menswear, designers interrogate the complexity of modern life

Read more

Business

Britain to 'roll out red carpet' for French tax exiles

Text by News Wires

Latest update : 2012-07-10

British Prime Minister David Cameron earned a dry riposte from France Tuesday over his suggestion that French business leaders could find refuge across the channel from the Socialist government's planned steep tax hikes.

AFP - France's Socialist government said Tuesday it was confident that patriotic business leaders would not flee the country over tax hikes, after Britain's prime minister offered to "roll out the red carpet".

"What I can answer to this statement from the British prime minister is that there are French bosses who are patriots, and there is a range of measures we will take in favour of business, measures that will support investment and encourage business to stay in France," European Affairs Minister Bernard Cazeneuve told Canal Plus television.

"There are measures that we will take that will promote investment and innovation and support growth," he said.

Hitting out at the Socialists' plan to introduce a 75 percent tax on annual income beyond one million euros ($1.26 million), Prime Minister David Cameron said Monday that Britain would open its doors to fleeing tax refugees.

"When France sets a 75 percent top income tax rate we will roll out the red carpet, and we will welcome more French businesses which will pay their taxes in Britain," he said.

"That will pay for our public services and our schools," he added, during an address to business leaders at the G20 summit in the Mexican resort of Los Cabos.

Later the French Labour Minister Michel Sapin, also in Mexico for the G20, suggested Cameron's comment had just spilled out without much forethought.

After all, he joked, "I don't know how one can roll out a red carpet over the Channel, it risks taking on some water."

Date created : 2012-06-19

  • UNITED KINGDOM

    British PM under fire over Murdoch ties

    Read more

  • FINANCE

    Sarkozy's financial transactions tax is 'mad'

    Read more

  • FINANCE

    French bankers back British PM’s Tobin tax jibe

    Read more

COMMENT(S)