Tracey L'EMINE?

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Tracey Emin set to quit Britain for France over 50% tax rate

 

 

 

Last updated at 10:58 PM on 04th October 2009

 

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La belle vie: Tracey Emin is planning to move to France to avoid higher taxes

 

Britart pioneer Tracey Emin is preparing to pack up her unmade bed and move to France because of Gordon Brown's 50 per cent tax for the rich.

The artist, who is a millionairess, told the Sunday Times that she was 'very seriously considering leaving Britain', adding: 'I’m simply not willing to pay tax at 50 per cent.'

 

Ms Emin's revelation comes after Chancellor Alistair Darling announced earlier this year that those earning over £150,000 a year would see income tax rise to 50 per cent from April 2010.

Ms Emin,46, already has a holiday home in France where she believes well-off artists are made to feel more welcome.

'The French have lower tax rates and they appreciate arts and culture,' Ms Emin told the Sunday Times.

The highest tax rate in France is 40 per cent, although there is also an annual wealth tax which starts at 0.55 per cent for those whose assets exceed €790,000 (£723,000).

 

Artists receive more subsidies and expense allowances.

 

Depsite David Cameron admitting to the Spectator this week that of all the living British artists he would most like to be painted by Ms Emin, he has been unable to commit to a reversal of the Prime Minister's 50 per cent tax hike.

 

 

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The Centre for Economics and Business Research has estimated that as many as 25,000 businessmen could leave the country after the introduction of the higher tax rate for the rich.

 

Ms Emin’s threat marks a reversal in the economic fortunes of Britain and France.

 

A few years ago, it was French business people who were flocking to Britain because of the lower taxes.

Read more: http://www.dailymail.co.uk/news/article-1218048/Britart-pioneer-Tracey-Emin-plans-quit-Britain-France-fifty-cent-tax-rich.html#ixzz0T1TDGV7f