“France’s constitutional council has struck down a top income tax rate of 75% introduced by Socialist President Francois Hollande. Raising taxes for those earning more than 1m euros (£817,400) has been a flagship policy for Mr Hollande. The policy angered France’s business community and prompted some wealthy citizens to say they would emigrate. Mr Hollande’s government said it would rework the tax, due to take effect in 2013, to meet the council’s complaints.”
