« Lifting the stone | Main | Out of Africa Always The Same Old Story »

The Laughing Gnomes

UK could lose tax millions as Swiss entice hedge funds - Times Online

The Government could lose hundreds of millions of pounds in revenue as the result of a Swiss campaign to lure hedge fund executives away from London with a promise to halve their tax bills.
Multimillionaire managers are being wooed with offers that enable them to keep their funds in offshore havens and reduce their taxable incomes with official backing.
The argument is that Switzerland combines natural beauty with a stable environment and, in many cases, low taxes. They contrast their “pragmatic approach” with British taxes, which they say have become punitive.

So why wouldn't you relocate? Of all the damages to our economy the stupid kneejerk bashing of the bankers may turn out to be the most damaging done by Brown.


When one of these Canary Wharf "fatcats" gets a megabonus of, say, £500,000, how much ends up in HM Treasury by virtue of taxation?

Just asking.

Governments are strange beasts. They cannot provide "panem et circenses" to the electorate without a healthy chunk of tax revenue and yet they feel constantly obliged to discourage the creation of wealth in the name of "fairness".

Post a comment