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Reply #12: Poor Try [View All]

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CHIMO Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-18-10 07:45 PM
Response to Reply #9
12. Poor Try
Seems like just another talk radio absolutism. It's been 30 years old and is now near death. Friedman, Harper and his followers continue to hang on by their nails.

Fears of mass UK banking exodus prove unfounded

Fears of a mass exodus by London's financiers to the more favourable tax climate of Switzerland appear to have been exaggerated: fewer Britons applied for permits to work in the Swiss financial services sector last year than in 2008.

Research by Channel 4 News shows that, despite warnings by Boris Johnson, the mayor of London, that 9,000 high-­flying City workers would decamp to escape the windfall levy on bonuses and the 50p income tax rate, just 1,079 British citizens joined the financial sector in the Alpine state last year – and about two-thirds of those were applying for IT or other back-office jobs. That represented a 7% decline on the number of Brits applying for a carte de séjour – work permit – in the financial services sector in 2008.

Alistair Darling's announcement of the bonus tax in December's pre-budget report provoked growls of irritation in the City, with many senior bankers threatening to depart for foreign shores.

Broker Tullett Prebon and hedge fund Bluecrest have announced plans to allow some of their City staff to move overseas, but the Swiss data suggests that so far, departures from London have been a trickle rather than a flood.
http://www.guardian.co.uk/business/2010/feb/18/uk-banker-exodus-exaggerated
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