Saturday, February 20, 2010

Bluffing

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

Posted by cat and canary @ 07:46 AM (3377 views)
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6 thoughts on “Bluffing

  • I think it’s a little too early to tell.

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  • At lot have forced workers out to Dubai and Singapore.

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  • Eternal Sceptic says:

    Having proved their incompetance on a massive worldwide scale, why do they still feel they have a useful skill set to hawk. Is the world upside down and am I crazy? Someone please tell me that I have not lost the plot entirely!

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  • Call their bluff – imagine this bunch

    a) trying to learn another languague

    b) telling their wives that they cannot lunch with the other mothers and talk crap about how the difficult it is to find the right nanny / creme friesh / pilates instructor etc.

    c) Venturing into the unknown

    The host must get rid of the hostile paracite.

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  • Toilet-currency says:

    The article only mentions UK citizens. I wonder why.

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  • Grizzley Bear says:

    Maybe they realise that Switzerland is less sweet looking than it used to, no thanks to stupid Swiss banks and the Swiss state buckling over foreign tax evaders, and other issues. I probably doesn’t help that they’d have to find a job, and life, in Switzerland first, and other countries probably look less attractive now, thanks to the fallout in Dubai!

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