The terror: The French Election and Business  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 403 no. 8779 (Apr. 2012), page 63.
Topik: Geographic Profiles; Political Campaigns; Candidates; Corporate Taxes; Location of Industry; Income Taxes; Tax Rates; Statistical Data

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As France enters the final weeks of its presidential campaign, candidates are competing to promise new measures that would hurt business. Francois Hollande, the Socialist candidate, and the current favorite to win the second and final round on May 6th, has promised a top marginal income-tax rate of 75% for those earning over EUR 1m ($1.3m). He has declared war on finance. If the Socialists win, he pledges, corporate taxes will rise and stock options will be outlawed. Other countries welcome global firms. Nicolas Sarkozy, the incumbent, is unpopular partly because of his perceived closeness to fat cats. To distance himself, he has promised a new tax on French multinationals' foreign sales. French firms are already struggling to hire foreign talent. No financial center comes close to Hollande's 75% rate. In parts of nearby Switzerland, the top rate is around 20%. Zurich is only an hour away; French politics seem stuck in another century.

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