FIRST AIRED: February 7, 2017

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
>>
INAUDIBL
]>> Forget fine wine and good food, the big question from London's bankers, was how much tax will I pay? More than 80 representatives from UK banks have met with authorities from Paris, who are trying to woo British financiers in the wake of the Brexit vote.>> 47 bunds!
00:00:17
>> Britain's departure from the EU, widely expected to force the relocation of some jobs. Reuters correspondent Angela Davey, says Paris is keen to get one over on its rivals.>> Paris is saying it doesn't want to steal jobs from London. It wants to be an alternative global capital, a so called win-win situation.
00:00:35
It says it already has the infrastructure, the global talent pool, the global education and also the infrastructure. But of course, it's competing with other European capitals such as Frankfurt, that has already a great financial center. But the big joke amongst the French is to ask, when have you ever booked a weekend in Frankfurt in the past few years?
00:00:56
>> France thinks it can attract 10000 jobs, although bankers mentioned French tax rates and lever laws as a possible The French government introduced tax concessions for expats last year, in the hope Paris could profit from Brexit. But experts say other centers with more flexible labor and tax rules, could be bigger beneficiaries.
00:01:15
Banks also keeping a close eye on French politics.>> Banks are waiting to decide whether they move to Paris for the outcome of the French elections, which are due in April-May. But we have had one solid commitment from HSBC. It has said that it could move 1,000 jobs to Paris.
00:01:33
>> Dublin, Luxembourg among rivals to Paris. Not to be outdone, Regulators met with 50 envoys from foreign banks last week, to try to attract them to Frankfurt. But the French delegation, thinks lifestyle questions give it the upper hand.