BRUSSELS: British Prime Minister David Cameron took a fresh dig at cross-channel rival France Monday, warning that French banks would flee to Britain if Paris introduces a financial transactions tax.
In comments aimed squarely at Nicolas Sarkozy after the French president reportedly criticised British industry, Cameron said the concept of the tax at a time of economic difficulty was "mad" and extraordinary".
"I know I used the word mad, but I do think it's an extraordinary thing to do," he told a press conference after a European Union summit in Brussels, referring to the introduction of the tax.
"The European Commissioner has told us this would cost Europe half a million jobs. Now when we're all fighting for jobs and for growth, to do something that would cost so many jobs does seem to me to be extraordinary.
"And in the spirit of this healthy competition with France, if France goes for a financial transactions tax then the door will be open and we'll be able to welcome many more French banks, businesses and others to the UK.
"We'll expand our economy in that way as well as by rebalancing it, because I think this is the wrong move."
Sarkozy on Sunday announced plans to introduce a 0.1 percent tax on financial transactions to come into effect from August this year in France.
Cameron said Sarkozy was a "remarkable" man and pointed to their collaboration in taking military action against Libyan leader Moamer Kadhafi's regime last year, but said they disagreed over certain topics.
He said he was "wishing my friend Nicolas well."
But relations have been stormy between the two in recent months.
In December when Cameron criticised the eurozone's efforts to tackle its debt crisis, Sarkozy reportedly snapped that -- as Britain is not part of the single currency -- Cameron should shut up.
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