Quote of the week

"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

Weekly Poll

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Red carpet

UK prime minister David Cameron recently annoyed French politicians and commentators by saying the UK will "roll out the red carpet" to wealthy French citizens and companies who wanted to emigrate and pay their taxes in the UK. French president Francois Hollande had promised, during his May election campaign, to slap a 75 per cent top tax rate on high earners.

Already, some wealth managers and lawyers have told sister publication WealthBriefing they see signs that more wealthy French people will try to emigrate to the UK.

Under present French rules, owners of holiday homes pay two other taxes to the French government: the taxe fonciere, which is paid by the house owner and the taxe d'habitation, which is paid by those who live in it.

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