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France Induces Industries to Leave UK Amid Uncertainty Over Tariffs

Britain might or might not exit the European Union (EU) in March 2019, but France’s bid to take advantage of the situation seems clear. According to a French government official, President Emmanuel Macron is ramping up the efforts to move companies in the UK. He is allegedly stating that a move to his nation would protect industrial firms from possible taxes post Brexit.

The French government has likely developed a plan that promises a much static environment after the UK leaves the EU. The government has recognized 50 firms in the industrial sector, including automobile and pharmaceutical companies, and is focused on securing the move. Confirmed by an official linked with the Elysee Palace (a private company) protocol.

To secure the move, France is set to target some firms at Monday’s “Choose France” summit. This is for a second year running that Macron will host his personal economic summit inside the Versailles palace. Executives will attend the conference as they travel to the World Economic Forum in Davos, Switzerland.

The official who asked not to be named, however, declined to name the companies interested in the move, calling the list was ” confidential.”

A Savior from the Dynamic World of ‘Unexpected’ Tariffs

The French government is anticipated to assure the companies a more forgiving tax environment inside the customs union, rather than leaving them in a world full of uncertainties.

The current Brexit process could lead Britain to leaving the EU without any proper deal in place. This could disturb the demand and supply forces, leaving the nation in a world of unexpected tariffs.

To lure the executives, Macron is expected to tell them about December study at the meeting. He is required to highlight hat Paris is the leader in attracting financial jobs. The President will also likely speak about the chaos caused by the Yellow Vest protest, steps undertaken to neutralize the situation, and how his government has successfully stuck to the reforms guaranteed in their five-year reign.

Finance Minister, Bruno Le Maire will stand by his President on Monday, and will also host a 20-person lunch on January 24 in Davos. This will include executives from pharmaceutical, construction, chemical, utility and mining companies.

On the other hand, Prime Minister of Britain Theresa May, is still trying to work out a ‘plan b’ for her deal to get it through the parliament, after the MPs voted against it last week. The chaos over the deal has multiplied in the recent times, fearing the failure of Irish Backstop plan.

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