We should be flattered not threatened by France’s bid to take on the City

The French are trying to seduce the British to come and work in Paris. A video hymns the delights of La Defense, the Gallic Canary Wharf. It is a healthy Brexit effect that the French now feel that they can no longer fight the City of London solely by trying to regulate it, and must try persuasion instead. The prospect of British departure reawakens the spirit of competition in a continent which had largely replaced it with bureaucracy. By leaving, Britain ought to win first-mover advantage in this contest, but even if we don’t, we will have done a service to our neighbours which we could never have managed if we had voted to stay.

This is an extract from Charles Moore’s Notes, which first appeared in this week’s Spectator magazine