French PM details bid to attract post-Brexit finance

French Prime Minister Edouard Philippe yesterday laid out a raft of measures aimed at boosting Paris's attractiveness to high finance to cash in on Britain's exit from the European Union.

Among them are scrapping a plan to widen a current 0.3 percent tax on financial transactions, eliminating the top income tax bracket, and keeping bonuses out of the calculation of severance pay for "risk-takers" such as stockbrokers.

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Paris is competing with Dublin, Frankfurt and other centres for an expected shift in finance jobs out of London as a result of Brexit.

In another step aimed at attracting foreign businesses, the Paris area is to open three more international high schools by 2022.

Philippe also announced that work had begun to establish an international tribunal in Paris to handle financial cases in English.