Baron Benjamin de Rothschild said the possible introduction of higher tax rates by President Francois Hollande may trigger an “exodus” of French entrepreneurs and other rich people, Bilan reported.
“This hunt for the rich, most of whom are entrepreneurs and contribute actively to the French economy, risks sparking an exodus,” de Rothschild, chairman of Geneva-based Banque Privee Edmond de Rothschild, told the Swiss magazine. “Geneva could benefit from this.”
Should France introduce an income tax based on nationality, de Rothschild said he would probably give up his French citizenship, Bilan reported in an interview to be published in tomorrow’s edition of the magazine.
De Rothschild, 48, the sixth generation since Mayer Amschel Rothschild and his five sons bankrolled European governments in the 19th century, holds a controlling stake in the Swiss private bank.