Macron prepares to seize 3,500 UK banking jobs in Brexit tax swoop

July 12, 2018 6:56 PM

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Macron prepares to seize 3,500 UK banking jobs in Brexit tax swoop

FRENCH president Emmanuel Macron is hoping to lure 3,500 UK bankers across the Channel after Brexit with a raft of new tax incentives.

The French government has promised their domestic banking industry they will make the financial centre of Paris more attractive to bankers across the world.

French Prime Minister Edouard Philippe announced that the regulation on the banking sector would be reduced to the EU minimum targets and new tax incentives would also be set.

He told 200 finance managers that the changes would be made by the end of the year.

The French capital is competing with the financial hubs of Frankfurt, Dublin and Luxembourg to lure bankers from London after Brexit.

According to lobby organisation Paris Europlace, 3,500 financial jobs are expected to come to Paris after the UK leaves the EU next year.

The French government has also recently pledged to increase the number of places in English-Language schools for the children of high-flying business men and women.

By doing this they hope to lure financial institutions from the City of London after Brexit.

Source: express.co.uk

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