Posts Tagged ‘Switzerland’

Goldman Sachs teams could quit the city over taxes and regulations

January 4, 2010

» Goldman Sachs teams could quit the city over taxes and regulations

Would anyone miss them?

Alongside its results last year Goldman highlighted that it paid £1.1bn in UK corporation tax, the biggest contribution from the UK financial sector. Its 5,000 London employees had also contributed hundreds of millions of pounds in income tax.

Well, yes, apart from that. The news is less serious than it seems: the organisation appears to be thinking aloud, and rather than making idle threats is wondering if it is viable to move (Switzerland is the most likely candidate) and if so, whether or not to do so. Hmmm, that’s actually a lot less comforting than an idle threat. Still, even Goldman appear unconvinced about the idea of moving, which means London may be safe – or, if that is your view, burdened – for a while yet.

Advertisements