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French PM Warns High Taxes Risk Wealthy Exodus

9/10/2025

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Summary

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French Prime Minister Francois Bayrou warned that high taxes might drive the wealthy out of France, echoing trends in Britain.
He made these remarks before his ousting by MPs during a failed attempt to save his premiership.
Bayrou urged parliament against taxing billionaires, fearing they would relocate to Luxembourg or Belgium.
He cited the UK’s tax policies as a warning, linking them to rising property prices in Milan.
His removal has fueled demands for President Emmanuel Macron's resignation amid the economic crisis.

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Story summary

French Prime Minister Francois Bayrou warned that high taxes might drive the wealthy out of France, echoing trends in Britain.
He made these remarks before his ousting by MPs during a failed attempt to save his premiership.
Bayrou urged parliament against taxing billionaires, fearing they would relocate to Luxembourg or Belgium.
He cited the UK’s tax policies as a warning, linking them to rising property prices in Milan.
His removal has fueled demands for President Emmanuel Macron's resignation amid the economic crisis.