Milan’s Boom Is Masking a Silent Tax Revolution: Lionel Laurent

Is Italy’s renaissance driven by a lighter touch on tax? That was the the accusation recently lobbed at Rome by French Prime Minister Francois Bayrou, who said the tax sweeteners attracting wealthy expats to booming Milan — known colloquially as the “empty London” strategy — were now at risk of emptying Paris. At a time when France is struggling to plug the budget deficit, Italy is engaging in “fiscal dumping,” he claimed.

The pushback from Giorgia Meloni’s government was swift, calling these comments “unfounded,” which is fair enough. It’s certainly legitimate to question the risks of tax-based competition for the rich when Milan is pricing ...