TaxCorporate TaxBoris Johnson raises fears about City exodus

Boris Johnson raises fears about City exodus

Mayor of London worried about the prosperity of the Square Mile as reports surface of Goldman Sachs moving parts of its business out of the UK

Boris Johnson has warned that the 50% windfall tax on bankers’ bonuses could
cause a stampede of City workers out of the UK.

The Mayor of London spoke out after reports surafced of banking giant Goldman
Sachs exploring options to relocate parts of its UK business.

“I am extremely anxious about rumours in the City that seem to confirm that
the recent knee-jerk and ill-thought-out tax grab by the Government to punish
bankers is causing some of our most important institutions to consider their
options,” the Mayor told
The
Daily Telegraph
.

Further reading:

Bonus
tax could rake in £2.5bn

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