‘Residing in France has become a big handicap’: Two MORE top executives join French exodus including Moet champagne empire boss
By Mail Foreign Service
PUBLISHED: 11:41 EST, 12 March 2013 | UPDATED: 11:41 EST, 12 March 2013
The millionaire boss of French technology giant Dassault Systemes said ‘residing in France has become a big handicap.’
Bernard Charles’ criticism of President Francois Hollande’s new tax regime comes as two senior executives at Moët Hennessy move to London from Paris.
President Hollande is under pressure as Gallic tycoons look to quit France to flee higher taxes while the economy continues to struggle.
Largish rock, avalanche. The reaction may seem larger than what caused it, but if so, it’s a case of the recent tax increase being the last pound of straw that broke the camel’s back. These “rich” people have put up with high taxes and demonization for decades, and now they’re “shrugging”. That the government of France might back off the 75% rate to 65% won’t mean much, as the same Hate-the-“Rich” Socialists remain in power (eager and able to readjust the tax rates again).