Artist Tracey Emin, famous for her Unmade Bed installation, has announced she is looking to move to France due to the rise of the income tax for those who earn above £150,000.

She said she may end up in a French property as she is "simply not willing" to pay the 50 per cent tax which the government has introduced for the rich.

"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," she said.

Emin already has French property and said that the country appreciates art and culture – and also has a lower tax rate for high earners than the UK.

In France, the highest level of tax is 40 per cent and artists are entitled to more expense allowances and subsidies.

Meanwhile, findings from Foreign Currency Direct reported on Homemove recently showed that Brits who own French property could benefit from the falling value of the pound.

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