Emmanuel Macron, the French presidential frontrunner, has unveiled proposals for tax and spending cuts, public sector job losses and investment just days after pledging to woo British businesses to France.

Macron, 39, an ex-banker who hopes to entice City banks to relocate to Paris, promised a substantial reduction in corporation tax to 25pc from its current 33.3pc.

“These conditions will help to attract talented professionals and jobs to France,” Mr Macron’s economics advisor, Jean Pisani-Ferry, said.

Asked if Mr Macron would loosen France’s notoriously rigid labour laws, Mr Pisani-Ferry told the Telegraph: “We will introduce more flexibility and give companies more leeway to negotiate individual agreements with staff.”