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Milan’s boom masks a silent tax revolution
The other Italian renaissance is a shrinking shadow economy.
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French Prime Minister Francois Bayrou had said the tax sweeteners attracting wealthy expats to booming Milan (above) were now at risk of emptying Paris.
PHOTO: REUTERS
Lionel Laurent
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Is Italy’s renaissance driven by a lighter touch on tax?
That was the accusation recently lobbed at Rome by French Prime Minister Francois Bayrou, who said the tax sweeteners attracting wealthy expats to booming Milan – known colloquially as the “empty London” strategy – were now at risk of emptying Paris. At a time when France is struggling to plug the budget deficit, Italy is engaging in “fiscal dumping”, he claimed.
