France increases aggressive campaign to lure MORE big business from Brexit Britain – Express.co.uk

Financial, industrial, mining and energy firms are among the targets that French politicians and business chiefs hope can be persuaded to relocate to Paris.

The drive comes after concerns surrounding banks and insurance firms that could lose so-called passporting rights in the event of a ‘hard’ Brexit, according to a report from the Financial Times.

Passporting allows firms based anywhere in the EU to sell services within the bloc.

Other companies that chose Britain as a base and rely on passporting rights are also set to be wooed.

The campaign is expected to be headed up by Oxford-educated Ross McInnes, chairman of Safran, the French engine maker.

President of the wider Paris region Valérie Pécresse and Paris mayor Anne Hidalgo mayor are to also to set to play major roles in trying to encourage firms to move to France.

It’s the latest in a series of moves by France aimed at making Paris more attractive to business and talent.

The government changed tax rules for expatriates in Paris soon after Brexit, while regulators have simplified rules for new financial companies.

Manuel Valls, French prime minister, said: “We want to build the financial capital of the future … now is the time to come to France.”

The capital’s business district also launched an advertising campaign with the tagline: “Tired of the fog? Try the frogs!”.

France is just one of eurozone countries hoping to snatch business out of the UK after Brexit.

Germany’s Frankfurt is also hoping big banks will consider relocation, while other countries such as Lithuania want smaller start-ups and service centres to move.


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