Big success for Donald Trump, Elon Musk? One of the world's richest persons warn that companies could flee France for US
LVMH, has picked a fight with the French government by suggesting that companies could flee France for the United States to escape a planned tax hike, as per a report.
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As the government of Prime Minister Francois Bayrou is struggling to fine-tune a budget designed to tackle the country's deficits and debt mountain, Arnault took issue with an expected key ingredient, a special tax on large companies, AFP reported.
«I have just returned from the US, and I have witnessed the wind of optimism in that country. Coming back to France is a bit like taking a cold shower,» Arnault said at this week's LVMH earnings presentation.
Usually seen as close to President Emmanuel Macron with whom he regularly meets, Arnault was among a group of very rich men attending President Donald Trump's inauguration ceremony in Washington this month.
In stinging remarks, Arnault dismissed Bayrou's plan as «a tax made in France» and offered an unfavourable comparison between France and the United States.
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