The French government is aiming to reverse a brain drain of its top financial minds, particularly to London, by offering tax and pension incentives for high-earners who return home.

Estimates of the numbers of French citizens living in the UK capital have been put as high as 300,000 by the government, with a substantial number working in banking, asset management and accounting. Under new proposals published by the government last week, bankers returning to their home country will pay reduced income tax on their salaries and bonuses, following a reduction in marginal tax rates above 40%. An annual ceiling will also be put on direct taxation, such as bonuses or profits on property sales. The full details of the scheme have yet to be published.