Tracey threatens to swap East End for Rive Gauche to escape heavy taxes
PUBLISHED: 16:00 13 October 2009 | UPDATED: 15:03 05 October 2010
TRACEY Emin has threatened to ditch the East End in favour of France because of Gordon Brown s new 50 per cent tax rate for the rich. The Turner Prize nominee, 46, who has lived and worked in Spitalfields since the early 1990s, said she is very seriously
TRACEY Emin has threatened to ditch the East End in favour of France because of Gordon Brown's new 50 per cent tax rate for the rich.
The Turner Prize nominee, 46, who has lived and worked in Spitalfields since the early 1990s, said she is "very seriously considering leaving the country" as she is not prepared to pay 50 per cent tax to a Government which she says does not invest enough in arts and culture.
The artist, who lives in Fournier Street and is in the process of redeveloping a large swathe of Spitalfields, already has a holiday home in France where she says artists are made to feel more welcome and the rate of tax for high earners is lower at 40 per cent.
She said: "The French have lower tax rates and they appreciate arts and culture.
"So much here is simply not working now. The taxes are too high, there aren't enough incentives to work hard, and our politicians have put me off. We're paying through the nose for everything."
Ms Emin has invested millions in restoring a 17th century weaving works in Tenter Ground, Spitalfields and converting the building into her home, office and artists' studios.
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