Tracey Emin may emigrate to avoid UK taxes

Tracey Emin, one of the leading lights of the Britart movement, is preparing to quit the country because of Gordon Brown’s 50% tax rate for the wealthy.

She joins a threatened exodus by celebrities, footballers and hedge fund bosses in search of less onerous tax regimes.

Emin, 46, said she was “very seriously considering leaving Britain”, adding: “I’m simply not willing to pay tax at 50%.” She is likely instead to live in France where she already has a holiday home and where she believes well-off artists are made to feel more welcome.



“The French have lower tax rates and they appreciate arts and culture,” said Emin. Brown’s 50% tax rate on incomes of more than £150,000 will be introduced in April.

The highest tax rate in France is 40%, although there is also an annual wealth tax starting at 0.55% for those whose assets exceed €790,000 (£723,000). Artists receive more subsidies and expense allowances.

Emin’s threat marks a reversal in the economic fortunes of Britain and France. Only a few years ago, French business people were flocking to Britain because of the lower taxes.